State whether the following statement are True or False: Revenue should be recognized after deducting the service

Question:

State whether the following statement are True or False:

Revenue should be recognized after deducting the service taxes, value added taxes and goods and service taxes, (Ind-AS 18).

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting For Management

ISBN: 9789385965661

4th Edition

Authors: Neelakantan Ramachandran, Ram Kumar Kakani

See More Books

Question Posted: Aug 25, 2023 08:28 AM

See More Questions

State whether the following sentences are true or false regarding accounting measurements within governmental- type funds . If the sentence is false, state why. 1. Capital assets are recognized as...
State whether the following sentences are true or false regarding proprietary- type funds and the accounting measurements made within them. If the sentence is false, state why. 1. Enterprise Funds...
State whether the following sentences are true or false regarding the nature and uses of governmental-type funds. If the sentence is false, state why. 1. Debt service expenditures and capital outlays...
Each of the following passages may be plausibly criticized by some who conclude that it contains a fallacy, but each may be defended by some who deny that the argument is fallacious. Discuss the...
Bradley Broadcasting expects to pay dividends of $1.12, $1.25, and $1.40 in one, two and three years, respectively. After that, dividends are expected to grow at a constant rate of 5% forever (so, t4...
In preparing a report on the economy, we need to estimate the percentage of businesses that plan to hire additional employees in the next 60 days. a) How many randomly selected employers must we...
Consider figure P8.43. Let the inertia of the block on the table be $M$ and that of the hanging bock be $M / 4$. If the coefficient of kinetic friction between the table and the block is 0.2 ,...
Bettys Fashions operates retail stores in both downtown and suburban locations. The company has two responsibility centers: the City Division, which contains stores in downtown locations, and the...
which a disk A of radius r rotates about a fixed vertical axis with angular displacement q1. A bar B of length h is pinned to A such that the axis of rotation is a radial line of A. (Note this is a...
Hexaware Technologies Limited is a leading software services provider, specializing in Application Management, EAI, e-Commerce, ERP and Embedded Systems. Industries served by the company include...
COCHIN International Airport Ltd (CIAL), the promoter and operator of the Cochin international airport in the country, located near Nedumbassery, is to allot shares worth 35 crore to its 10,000...
Michaels Ltd. had available at the end of 2019 the following information. Instructions Prepare a statement of cash flows for Michaels Ltd. using the direct method. Assume the short-term investments...
Describe your personal level of career adaptability. Also describe which domains of career adaptability you think you need to further explore.
[10] When executed, the program performs the following: a) Count # of ones in WRD b) Count # of zeros in WRD c) Multiplying WRD by 2 d) Dividing WRD by 2
What strategies can organizations employ to proactively identify and mitigate budgetary risks, such as cost overruns, revenue shortfalls, and unforeseen contingencies, in order to safeguard financial...
Develop a leadership philosophy statement. Begin by reviewing your self-assessment results from Topic 2 and reflect on what you have learned about effective leadership and conscious capitalism in the...
The Michigan Leadership Studies provided three leadership actions or courses of action (task-oriented, relationship-oriented, and participative leadership). Select and describe the course of action...
The following table lists several characteristics. Place a check mark next to those items which pertain directly to the internal audit function and its role within the organization. Characteristic...
Drainee purchases direct materials each month. Its payment history shows that 65% is paid in the month of purchase with the remaining balance paid the month after purchase. Prepare a cash payment...
Selected transactions during April between Swan Company and Bird Company are listed in Problem 5-4B. In Problem 5-4B. The following selected transactions were completed during April between Swan...
Selected transactions during April between Swan Company and Bird Company are listed in Problem 5-4B. In Problem 5-4B. The following selected transactions were completed during April between Swan...
Rustic Furniture Co. is owned and operated by Cam Pfeifer. The following is an excerpt from a conversation between Cam Pfeifer and Mitzi Wheeler, the chief accountant for Rustic Furniture Co. Cam:...
What are the garnishes & accompaniment for apricot bavarois, creme caramel, tiramisu parfait?
Herb owns a metal working business, from which he draws a salary of $40 per hour. Herb needs a custom metal press, but he could not find what he wanted on the market, so he modified an existing press...
Pop Eye Company manufactures two types of sailboats, Simple and Complex. Simple is a high-volume product that is relatively simplistic in nature while complex is a low-volume complex manufacturing...

State whether the following statement are True or False: Revenue should be recognized after deducting the service

Question:

Step by Step Answer:

Financial Accounting For Management

Students also viewed these Business questions