Question
A company enters into a contract to construct a
specialized asset over 4 years. At the end of Year 2, total costs incurred are ₹60 lakh, estimated total costs are ₹100 lakh, and total contract revenue is ₹130 lakh. Which amount should be recognized as revenue till Year 2 under AS 7?Solution
Revenue recognized = (Costs incurred / Total estimated costs) × Total contract revenue = (60/100) × 130 = ₹78 lakh.
Azaz Patel is related to which of the following sport?
According to the Constitution of India, the 'Executive Power of the Union' shall be vested in the
1. President
2. Prime Minister
Se...
______ is the state flower of Madhya Pradesh?
Which of the following pairs correctly matches the location of a steel plant in India?
Which river crosses tropic of Capricorn twice?
Which one of the following states Gulf of Khambhat is situated?
शरीर में हीमोग्लोबिन का कार्य है ?
Which of the following is a liability?
Which of the following musical instrument was not composite or Indo-Islamic in origin?
Which of the following is not correctly matched?
Central Pay Commissions : Chairman
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