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Under Ind AS 115, the BEST EVIDENCE of a standalone selling price (SSP) is:
AThe observable price at which the entity sells the same good/service separately in similar circumstances and to similar customers
BThe list price stated in the entity's price catalogue
CThe contractually stated price in the current contract
DThe price at which a competitor sells a comparable good/service
Answer & Solution
Correct answer: A. The observable price at which the entity sells the same good/service separately in similar circumstances and to similar customers
Para 77 — observable separate-sale price is the best evidence of SSP. A list price MAY be (but is NOT presumed to be) the SSP. The contractual price within the very contract being analysed is not best evidence. Competitor prices feed the adjusted-market-assessment estimation method (a fallback when SSP is not directly observable), not best evidence.
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