Advisory Consultant
Advisory Consultant Interview Questions and Answers for Freshers
Updated 17 Jul 2025
Asked in Deloitte
3d ago
Q. Tell me how you recognize Revenue.
Ans.
Revenue recognition involves determining when and how much revenue to record in financial statements.
Revenue is recognized when it is earned and realizable, typically when goods are delivered or services are performed.
For example, a software company recognizes revenue when the software is delivered and the customer has accepted it.
Under the ASC 606 standard, revenue is recognized based on a five-step model: identify contracts, identify performance obligations, determine trans...read more
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