Question

Which of these is not an example of revenue recognition

Q: Answer-Which of these is not an example of revenue recognition over time per Ind AS 115?

Revenue is recognized over time only if one of the specific criteria in Ind AS 115 is met. If control of a good or service transfers at a specific point in time like a single delivery, revenue is recognized at that point, not over time.

over time per Ind AS 115?

A Customer simultaneously receives and consumes benefits as seller performs --- over time

B Contract creates asset with alternative use to seller and seller has enforceable right to payment for performance --- over time if right exists

C Transfer of control at a point in time (single delivery) --- point in time recognition

D Continuous transfer of control as goods created --- over time

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Which of these is not an example of revenue recognition

Solution