if a product is sold but the possession of product is with seller as per the discretion of buyer, where it will be shown in balance sheet.
& what is the treatment of that product.
Thanks
M.Sathish Kumar
(CA Practice)
(34 Points)
Replied 02 April 2014
In my view, it should be recognised as revenue since risk and rewards are transferred and ensure the same has not been included in stock
Vivek Khakhkhar
(Assistant Audit Manager)
(201 Points)
Replied 03 April 2014
Agreed with above reply.
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