Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. when ifrs uses the cost recovery method to account

When IFRS uses the cost recovery method to account for a long-term contract,: ...

50.1K

Verified Solution

Question

Accounting

When IFRS uses the cost recovery method to account for a long-term contract,:

A. Revenue typically is recognized in excess of costs incurred early in the life of the contract.

B. Costs in excess of revenue are typically recognized early in the life of the contract.

C. Revenue equal to costs are typically recognized early in the life of the contract.

D. Revenue is based on contract completion, not on costs, early in the life of the contract.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Obtain the general solution of the following equation 4Uxx+12Uxy+9Uyy-9U = 9

Advance Math
Q

What increases the amount of H+ (protons) in the thylakoid lumen? (select all that apply)sunlightsplitting...

Biology
Q

Which process will increase the temperature of the system without heating it Adiabatic compression 79...

Physics
Q

3 Consider the circles tangent to each other in the square below Find the area...

Geometry
Q

O population variance third quartile O median coefficient of you CV

Basic Math
Q

Solve the problem by applying the Fundamental Counting Principle with two groupsof items.An apartment complex...

Basic Math
Q

Use the distributive property. 6(3x - 4y +7z) = [?]x + []y +[]z

Algebra
Q

please finish part 1 and 2 ssignment Saved The manufacturing division...

Accounting
Q

LBC Corporation makes and sells a product called Product WZ. Each unit of Product WZ...

Accounting
Q

did i do this correctly ?

Accounting
Q

What is the present value of $6,500 to be received at the beginning of each...

Accounting
Q

Which one of the following has the highest effective annual rate? Multiple Choice 6 percent...

Finance