The 'Transaction Price' under Ind AS 115 includes: MCQ with Answer and Explanation
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Question #1
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The 'Current Service Cost' and 'Net Interest' on defined benefit liability/asset are recognised in:
Correct Answer: Option A
Explanation:
Service cost and net interest are recognised in P&L; re-measurements in OCI.
Service cost and net interest are recognised in P&L; re-measurements in OCI.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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On attaining majority, a minor admitted to benefits has the option to become a partner within:
Correct Answer: Option C
Explanation:
Within 6 months of attaining majority, he must decide whether to become a partner or not.
Within 6 months of attaining majority, he must decide whether to become a partner or not.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The 'TCS' collected by e-commerce operator is to be deposited by:
Correct Answer: Option A
Explanation:
TCS is to be remitted within 10 days after the end of the month of collection.
TCS is to be remitted within 10 days after the end of the month of collection.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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