Question
According to IND AS 115, when can revenue be
recognized?Solution
When the performance obligation is satisfied. Under IND AS 115, revenue should be recognized when the performance obligation is satisfied. A performance obligation is defined as a promise to transfer a good or service to a customer. The satisfaction of a performance obligation occurs when control of the promised good or service is transferred to the customer. This means that the customer has the ability to use and benefit from the good or service and also bears the risks and rewards associated with ownership of the good or service.
If the box S has 32 shirts, then what will be the possible number of shirts of P?
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If another student N, who secured more marks than S, secured 78 marks and V secured 65 marks in the examination, then what will be the possible marks se...
