Question
A construction company receives advance from customer,
against the contract of constructing a bridge. But the construction company does not take this to income or sale, due to which of the following concept:Solution
Revenue recognition of services depends as the service is performed. This is further divided into two ways: (a) Proportionate Completion Method: This method of accounting recognizes revenue in the statement of profit & loss proportionately with the degree of completion of each service. Here the service completion consists of the execution of more than one act. Revenue is recognized with the completion of each such act. (b) Completed Service Contract Method: This method of accounting recognizes revenue in the statement of profit & loss only when the rendering of services under a contract is completed or substantially completed.
It’s estranged that , on any given day, ten thousand species are being given between the world just in the ballast water of our supertankers.
...Select the phrase from the options below that should replace the underlined phrase in the sentence to make it grammatically and contextually correct. I...
In order to make the drug widely available and easily accessible so that treatmenting can be starting early, the drug was moved from Schedule X to Sched...
Out of the statements given below, one statement may be grammatically and contextually correct. Choose the correct statement as your answer. If all the ...
Select the most appropriate option to substitute the underlined segment in the given sentence. If there is no need to substitute it, select ‘No substi...
In each of the questions given below, four words are given in bold. These four words may or may not be in their correct position. The sentence is then ...
We wanted to promote formally trained artistes, upcoming designers as well as student entrepreneurs who are educated but do not get platforms to show hi...
His lawyer told him he could not understand why the Justice Department would bring up a charge on the technicality of one misdated check.
i) The government has announced a new policy to support small businesses struggling after the pandemic.
ii) Political analysts agree that recent ...
Our idea was to give a chance to young entrepreneurs, especially women, to exhibit their skills and products at a prestigious venue like DilliH...
