Which of the following is not true about contract assets? Select onec OA Contract assets are...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Which of the following is not true about contract assets? Select onec OA Contract assets are recognized when the sellee has a conditional rght to receive payment. B. Contract assets are recognized when the seller has been paid in advance for at least partially fulfilling its performance obligations. C. Contract assets are recorded when payment depends on something other than the passage of time. OD. Contract assets are not the same as accounts receivable Which of the following is not true about contract assets? Select onec OA Contract assets are recognized when the sellee has a conditional rght to receive payment. B. Contract assets are recognized when the seller has been paid in advance for at least partially fulfilling its performance obligations. C. Contract assets are recorded when payment depends on something other than the passage of time. OD. Contract assets are not the same as accounts receivable
Expert Answer:
Answer rating: 100% (QA)
Correct answer Contract assets are recognized when the seller has been paid in advance ... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Which of the following is not true about an ideal gas? (a) The average kinetic energy of the gas molecules increases as the temperature increases. (b) The volume of an ideal gas increases with...
-
Which of the following is NOT true about business ethics? A. Businesses should become involved in community-related issues and activities. B. Businesses should be sure that all their print and...
-
Which of the following is not true of obstructive pulmonary disorders? a. Air does not flow freely in the airways. b. Vital capacity is reduced due to toss of lung elasticity. c. Disorders may...
-
Find the number density N/V for electrons such that (a) e -a = 1 and (b) e -a = 10 -6 .
-
From the following figure (similar to Figure 18.2): (a) Indicate whether the nation faces a deficit or surplus in its balance of payments at YE = 1000. (b) Determine the size of the deficit or...
-
Use the curved-arrow notation to write the reaction that would take place between dimethylamine (CH3)2NH and boron trifluoride. Identify the Lewis acid, Lewis base, nucleophile, and electrophile and...
-
An electric motor, of mass \(20 \mathrm{~kg}\) and operating speed \(1350 \mathrm{rpm}\), is placed on a fixed-fixed steel beam of width \(15 \mathrm{~cm}\) and depth \(1.2 \mathrm{~cm}\), as shown...
-
The financial statements of JJ Ltd and KK Ltd for the year to 30 June 2018 are shown below: Statements of comprehensive income for the year to 30 June 2018. Statements of financial position as at 30...
-
provide a brief history of scenario planning in general. Describe an overview of the scenario planning process. Determine who is responsible for scenario planning within the organization. Provide a...
-
It seems that some countries like China may be developing hybrid HRM systems. What are some of the advantages and disadvantages of the hybrid HRM system?
-
Shiek Shoes sold an administrative building to its parent, Pearl Industries, on January 1, 2015 for $8,000,000. At the time of the sale, the building was carried on Shieks books at original cost of...
-
A forecasting technique that takes the previous forecast and adds some percentage of the previous forecast's error is called what?
-
The use of which alpha would result in a smoother forecast, a = 0.2 or a = 0.5?
-
In time series analysis, any pattern that regularly repeats itself and is constant in length is referred to as what?
-
Which calculation would reveal the bias in a forecasting technique, the mean error or mean absolute deviation?
-
In an economic model discussed in this chapter, the cost of waiting was a cost to whom? Is this necessarily the entire cost of waiting?
-
What will the following program print? public class Question 6 { public static void main(String[] args) { int x = 9; double i 4.0; char c='7'; System.out.println(f(i, x)); } } public static double...
-
Outline a general process applicable to most control situations. Using this, explain how you would develop a system to control home delivery staff at a local pizza shop.
-
Two 3.8-F capacitors, two 2.2-k resistors, and a 16.0-V source are connected in series. Starting from the uncharged state, how long does it take for the current to drop from its initial value to 1.50...
-
1. The alternating electric current at a wall outlet is most commonly produced by (a) A connection to rechargeable batteries. (b) A rotating coil that is immersed in a magnetic field. (c)...
-
The Sun is below us at midnight, nearly in line with the Earth's center. Are we then heavier at midnight, due to the Sun's gravitational force on us, than we are at noon? Explain.
-
You are the senior partner of a large, local audit firm. In reviewing the work of a junior staff member on a compilation engagement for Greasemonkey's Delight Inc., a local autoparts store (in which...
-
The chapter discussed three issues to consider when obtaining evidence using a sample-based audit procedure: a. The number of transactions or items to examine b. The actual transactions or items to...
-
Compare and contrast statistical and non-statistical (judgmental) sampling. Include in your discussion conditions that might make one approach to sampling more desirable than the other.
Study smarter with the SolutionInn App