Question
According to IND AS 115, when can revenue be
recognized?ÂSolution
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.
For the first time in the world a rare and fatal brain amoeba has been found in which country?
Which element has the highest melting point?
Which of the following pairs is not correct matched?
Which organization released a report stating that NBFC-MFIs are the largest providers of micro-credit in India?
Which of the following Pariyojana is common to Uttar Pradesh, Bihar and Nepal?
Vijay Kumar, has won Bronze medal for Judo under ___ kg weight category in the judo men’ s final in Commonwealth games, Birmingham.
Which city is famous for its glass and bangle industry?
National Food Laboratory of FSSAI inaugurated the Food testing Laboratory in ______ state of India?
Where was the headquarters of the Ghadar Movement located?
Who is elected as the new President of Somalia?
