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:ÂSolution
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.
Statements:
All summers are winters.
Only a few summers are spring.
Some springs are autumn.
No autumn is season.
...
Two statements are given followed by two conclusions numbered I& II. Assuming the statements to be true, even if they seem to be at variance with commo...
Statements:
Only a few triangle is circle
All circles are squares
Only a few square is rectangle
Conclusions:
I. Most...
Statement:
Some P are Q
Only a few R are S.
Only a few S are T.
Only S are P.
Conclusion...
Statements: All glasses are plates.
Some plates are bowls.
Conclusions:I. Some bowls are glasses.
II. No bowl is a glass.Â
Statements:
No waiter is a bar.
Some bars are bottles.
All bottles are drinks.
Some drinks are motels.
Conclusions:
In the questions given below, there are three statements followed by three conclusions I, II and III. You have to take the three given statements to be...
Statement: All calculators are buttons.
      All buttons are ovals.
Conclusions: I. Some calculators are ovals.
  �...
Statements: Some doors are windows.
All houses are windows.
No mirror is a door.
Conclusions: I. Some doors are mirror
Statement :
No dog is a cat.
All cats are mats.
Â
Conclusion:
I. Some dogs are mats.
II. All dogs can never be mats.
