Which of the following describes 'Deferred Revenue Expenditure'? MCQ with Answer and Explanation

In the absence of any agreement, partners share profits:

S1: Under GST, the time of supply for goods under the Reverse Charge Mechanism (RCM) is the earliest of the date of receipt of goods, date of payment, or date of invoice. S2: For services under RCM, the time of supply is the date of payment or the date immediately following 60 days from the date of invoice, whichever is earlier. Which statement(s) is/are correct?

The audit report is addressed to: