Question
A company sells air-conditioners with a 2-year free
maintenance service included in the contract. The customer pays the full consideration upfront at delivery. As per Ind AS 115, revenue should not be recognised fully on the date of sale. Instead, it must be allocated between the product and service obligations. Which of the following is the most appropriate treatment?Solution
Ind AS 115 requires separation of performance obligations. The product revenue is recognised when delivered, while maintenance revenue is recognised over the service period.
India's highest honour in the field of literature isÂ
Which of the following statements given below about the post-Mauryan period is correct?Â
Consider the following statements with respect to Sittanvasal paintings:
1. These paintings were patronized by the Pandyas.
2. These paint...
With reference to ‘'Gurbani’', consider the following statements:
1. It is a collection of hymns of only Sikh Gurus.
2. It was finally...
Which of the following statements about Alauddin Khilji is correct?Â
Consider the following statements in the context of the taxation system in Mahajanapada period:
1. The payment was made only in kind as the perio...
Irrigation Tax was imposed by which of the following Sultans for the first time?
Consider the followingpairs:
 Whic...
In the context of ancient Indian history, Gandhikas refer to
With reference to the Global Initiative on Sharing All Influenza Data (GISAID), consider the following statements:
1. It aims to promote the rapi...
