Compared with earlier guidance, IFRS 15 may change the timing of revenue how?
AAlways earlier than before
BAlways later than before
CEarlier or later by case
DNever any timing change
Answer & Solution
Correct answer: C. Earlier or later by case
The new model is not one-directional: some contracts see earlier recognition and others later.
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?