Question

As per AS 9, revenue from sales of goods should be recognized when:

Q: Answer-As per AS 9, revenue from sales of goods should be recognized when:

AS 9 states that revenue from sales should be recognized when the seller has transferred the significant risks and rewards of ownership to the buyer and retains no effective control over the goods.

A The order is received.

B The goods are manufactured.

C The significant risks and rewards of ownership are transferred to the buyer.

D The payment is received.

E The delivery is initiated.

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As per AS 9, revenue from sales of goods should be recognized when:

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