ICDS IV deals with
Question and options
ICDS IV deals with
Construction Contracts
Valuation of Inventories
Revenue Recognition
Securities
Answer and explanation
Correct answer: C - Revenue Recognition
Income Computation and Disclosure Standard IV deals with revenue recognition, including revenue from sale of goods, services and the use of resources. Valuation of inventories is ICDS II, construction contracts ICDS III and securities ICDS VIII; the standards notified under the old law continue as if made under section 276(2) of the Income-tax Act, 2025 by virtue of section 536(2)(j).
Practice for these exams
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All India Bar Examination (AIBE)
Subject revision
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IIT Kharagpur LL.M. Entrance
Subject revision
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CLAT PG
Subject revision for a passage-based exam
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AILET PG
Subject revision
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