In AS 9 revenue means ........

Accountancy (Phase -I & II) Accounting standards

In AS-9, revenue means..................

the gross inflow of cash, receivables or other consideration arising in the course of the ordinary activities of an enterprise from the sale of goods, from the rendering of services, and from the use by others of enterprise resources yielding interest, royalties and dividends

is original and planned investigation undertaken with the prospect of gaining new scientific or technical knowledge and understanding.

is the application of research findings or other knowledge to a plan or design for the production of new or substantially improved materials, devices, products, processes, systems or services before the start of commercial production or use.

none of these

छोटे Courses बड़े Results

Master Accounting standards

Prepare through Micro-courses

Try Now

Explanation:

In AS-9, Revenue is the gross inflow of cash, receivables or other consideration arising in the course of the ordinary activities of an enterprise from the sale of goods, from the rendering of services, and from the use by others of enterprise resources yielding interest, royalties and dividends. Revenue is measured by the charges made to customers or clients for goods supplied and services rendered to them and by the charges and rewards arising from the use of resources by them. In an agency relationship, the revenue is the amount of commission and not the gross inflow of cash, receivables or other consideration.