Revenue should be recognized at the point of sale. Which principle is applied here?
The Realization Principle states that revenue should be recognized (recorded) when it is realized or earned, and when it can be reasonably measured or reliably determined. In the context of a point of sale, revenue is considered realized when a company has completed the delivery of goods or services to the customer, and the customer has accepted those goods or services. This typically occurs at the point of sale when ownership transfers to the customer, and the seller has fulfilled its obligations.
What is the journal entry for purchasing Machinery from M/S Darjeeling?
___________ is a capital budgeting technique which does not require the computation of the cost of capital for decision making purposes.
Which of the following is not a type of buyer on the GeM?
Donation given by any person except by Indian company to Political Parties or Electoral Trust is allowed under which section?
XYZ Radiology Centre acquired a new imported X-ray machine for Rs.10,50,000. Octroi paid on the machine was Rs. 5,000. Expenses of setting up and start...
In GST the transaction value for computation of value of supply can be rejected if-
UPI stands for ________.
What is the standard TDS rate applicable to interest on securities as per Section 193 of the Income Tax Act, 1961?
What is the charging section under CGST Act, 2017
Auditing begins where ______ ends.
