A company signs a contract to produce four machines according to the customer's specifications. On the date
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Question:
- A company signs a contract to produce four machines according to the customer's specifications. On the date of the contract, the customer pays one half of the total contract price. The machines will be manufactured and delivered during the next fiscal year. what assumption or principle was violated?
A. revenue recognition
B. historical cost
C. expense recognition
D. Conservatism
Related Book For
Intermediate Accounting
ISBN: 978-1118742976
16th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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