Which condition helps make a promised good or service distinct?
AIt costs over ten percent of price
BIt is delivered on the same day
CIt is made by the entity itself
DIt can be told apart from other promises
Answer & Solution
Correct answer: D. It can be told apart from other promises
A distinct item can be used by the customer on its own and is separately identifiable from other promises in the contract.
Keep practising Ind AS 115 Revenue from Contracts with Customers
Browse all Ind AS 115 Revenue from Contracts with Customers questions for CA Final, or explore more Financialreporting topics.
Related questions
Repayment of debt principal belongs to which activity?In the indirect method, an increase in an asset account is treated how?The indirect method of cash flow preparation starts from what?Purchase or sale of an asset is classified under which activity?Under IAS 7, where may interest paid be reported?Which item does a cash flow statement exclude as a non-cash transaction?Why can a profitable company still run short of cash?A cash flow statement splits cash flows into which three?