IND AS 115 prescribes a 5-step model for recognition of revenue, identify the correct sequence of the following steps given below:
I. Identify the performance obligations in the contract
II. Recognize revenue when (or as) the entity satisfies its performance obligations.
III. Determine the transaction price
IV. Allocate the transaction price to the performance obligations in the contract
V. Identify the contract with the customer
IND AS 115 provides a 5-step model for recognizing revenue from contracts with customers. To achieve the core principle, an entity should apply the following five-step model: Step 1: Identify the contract with the customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies its performance obligations
Arhar (pigeonpea) is commonly known as
Which of the following is a cultural method of weed control?
Dew lap is located on which body part of a cow among the followings?
What does the "High Quality Life (HQL)" refer to in frozen fish storage?
Panama wilt is associated with
In which one the following country, Hybrid rice for commercial production was first evolved?
Which citrus pest causes damage by consuming leaves from the margin and is most destructive during the nursery stage of the crop?
Three types of patents are
Arka Jyoti is variety of:
On the basis of climatic condition, Walnut is an example of which type of fruit crop?