Business, 07.08.2019 03:20, joejoefofana

Which of the following is true about accounting for long-term construction contracts? a. contract assets are likely to be larger if revenue is recognized over time than if revenue is recognized at a point in time. b. contract assets are likely to be smaller if revenue is recognized over time than if revenue is recognized at a point in timec. contract assets are likely to be the same size regardless of whether revenue is recognized over time or at a point in timed. there is no way to tell how revenue recognition timing will affect the size of contract assets without more information.

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 08:30, BigDough9090

Acompany recorded a check in its accounting records as $87. however, the check was actually written for $78 and it cleared the bank as $78. what adjustment is needed to the personal statement? a. decrease by $9 b. increase by $9 c. decrease by $18 d. increase by $9

Answers: 2

continue

Business, 22.06.2019 08:50, cmflores3245

Suppose that in an economy the structural unemployment rate is 2.2 percent, the natural unemployment rate is 5.3 percent, and the cyclical unemployment rate is 2 percent. the frictional unemployment rate is percent and the actual unemployment rate (in this economy) is percent.

Answers: 2

continue

Business, 22.06.2019 10:10, sydc1215

At the end of year 2, retained earnings for the baker company was $3,550. revenue earned by the company in year 2 was $3,800, expenses paid during the period were $2,000, and dividends paid during the period were $1,400. based on this information alone, retained earnings at the beginning of year 2 was:

Answers: 1

continue

Business, 22.06.2019 12:10, montgomerykarloxc24x

The cost of the beginning work in process inventory was comprised of $3,000 of direct materials, $10,000 of direct labor, and $10,000 of factory overhead. costs incurred during the period were comprised of $15,000 of direct materials costs, and $100,000 of conversion costs. the equivalent units of production (eup) for the period were 9,000 for direct materials and 6,000 for conversion. the costs per eup were:

Answers: 3

continue

Do you know the correct answer?

Which of the following is true about accounting for long-term construction contracts? a. contract as...