alleryStart learning →Under the most likely amount method, what is the price?
AThe lowest possible amount
BThe average of all amounts
CThe most probable amount
DThe highest possible amount
Answer & Solution
Correct answer: C. The most probable amount
The method picks the single consideration amount that has the highest probability of being realized.
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?