Question
Procurement of goods and services from the government
portal GeM has crossed ______ so far this fiscal on account of an increase in buying activities by different ministries and departments.Solution
Procurement of goods and services from the government portal GeM has crossed Rs 1 lakh crore so far this fiscal on account of an increase in buying activities by different ministries and departments. The contribution of Central Public Sector Enterprises (CPSEs), central ministries, and state governments has been 54 percent, 26 percent, and 20 percent.
The revenue recognition principle dictates that all types of incomes should be recorded or recognized when
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