Question 10 Not yet Which one of the following situation best describes a contract liability as per IFRS 157 answered Marked out of 1.00 Flag question None of them If a company has an unbilled revenue from the customer exists. If a customer has paid amount of consideration prior to the entity performing by transferring the related services to the customer If the company has a right to consideration is conditional on something other than the passage of time Question 13 Not yet answered Marked out of 1.00 P Flag question From the following identify the line items that is/are prohibited from being recognized as an intangible asset in the books of accounts as per IAS 38 ? 1. Home grown goodwill II. Separately acquired intangible III. Internally generated intangibles *> I and III only II and Ill only Il only I only As per the definition of revenue stated by IFRS15, which of the following statements is correct? Revenue may arise from either ordinary activities or extraordinary activities Revenue arises from ordinary activities only Revenue includes cash received from share issues Revenue includes cash received from borrowings