If an organisation is constructing a building, and that building will take a number of years to
Question:
If an organisation is constructing a building, and that building will take a number of years to complete, can the organisation recognise revenue throughout the contract, or does the construction-based organisation have to wait until project completion before it recognises the revenue associated with the construction contract?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (3 reviews)
Yes as long as certain conditions are satisfied the revenue can be recognised over a period of time ...View the full answer
Answered By
David Ngaruiya
i am a smart worker who concentrates on the content according to my clients' specifications and requirements.
4.50+
7+ Reviews
19+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
XYZ Windows Ltd is involved in a research and development project to create a filtering window that removes the need for curtains. For the current year ended 30 June 2020 expenditure on the project...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
Q1. How worried are clients and stakeholders in day-to- day product improvement? 2. the industrial corporation Case for Agility "The struggle is not always to the most powerful, nor the race to the...
-
Determine the length of the hydrogen bonds between: TYR41H and GLU37O ALA39H and MET35O GLU38H and ILE34O THR36H and ARG32O ARG32H and TYR28O by using PyMOL And identify the residues located at...
-
What is the difference between a methodology and a work plan? How are the two terms related?
-
Determine the necessary end-of-June adjustments for Brown Company. 1. On June 1, 2016, Brown Company, a new firm, paid $7,000 rent in advance for a seven-month period. The $7,000 was debited to the...
-
It is August 6. You are the president of a small electronics company. The company has some cash reserves that will not be needed for about 3 months, but interest rates are very low. Your chief...
-
Table P-18 contains data values that represent the monthly sales (in billions of dollars) of all retail stores in the United States. Using the data through 1994, perform a decomposition analysis of...
-
Bond value and time-Changing required returns Personal Finance Problem Lynn Parsons is considering investing in either of two outstanding bonds. The bonds both have $1,000 par values and 14% coupon...
-
Many processor architectures have a load with post-increment instIt is not possible to implement this instruction without either modifying the register file (adding another write port) or making the...
-
Why is it important for a reporting entity to identify its contracts with customers and to fully understand the terms of the contracts?
-
Does AASB 15 apply to income derived from financial instruments?
-
Prepare the bills payable account from the following and find out missing figure if any : Bills accepted Discount received Purchases returns Return inwards Cash paid to accounts payable Bills...
-
In financial strategic analysis, why is Efficiency Ratio such as Asset Turnover important? To measure the efficiency of asset utilization To evaluate long-term debt paying ability To assess...
-
On the sheet called Income Statement, in cell E14 create the formula for the Income Tax. On the sheet called Income Statement, make cell C14 is the only cell that the enduser can type in. Protect the...
-
The Fairtrade America/coffee site states that this organization supports a fair deal for the farmers and workers who grow our food. What does this mean? Discuss whether this notion of fair trade is...
-
1. On average, and all else being equal, women who are mothers are paid less than women who are not mothers (this difference in pay is sometimes called "the mothers discount"). Explain why women who...
-
Identify two goods or services in your life that have an inelastic demand curve and two that have an elastic demand curve. Explain why you have chosen each as being inelastic or elastic.
-
A sample of a hydrocarbon (a compound consisting of only carbon and hydrogen) contains 2.59 10 23 atoms of hydrogen and is 17.3% hydrogen by mass. If the molar mass of the hydrocarbon is between 55...
-
The manager for retail customers, Katie White, wants to hear your opinion regarding one business offer she has received from an entrepreneur who is starting a mobile phone app called Easy Money. The...
-
Identify each of the following organizational characteristics with the organizational form or forms with which it is associated. (a) Easier to transfer ownership (b) Easier to raise funds (c) More...
-
Identify each of the following organizational characteristics with the organizational form or forms with which it is associated. (a) Easier to transfer ownership (b) Easier to raise funds (c) More...
-
Classify each item as an asset, liability, common stock, revenue, or expense. (a) Issuance of ownership shares (b) Land purchased (c) Amounts owed to suppliers (d) Bonds payable (e) Amount earned...
-
How does the Impulse-Momentum Theorem explain why we bend our knees when landing after jumping?
-
2. It is common (although not always socially acceptable) to cool a bowl of soup by blowing over the surface of the liquid. Consider a bowl of about 14 cm (5.5 in.) diameter. The exhaled air is...
-
For all of the coefficients of regression function, test against a two sided alternative at the 5% significance level the null hypothesis that the concerning coefficient is zero. Coefficients Model...
Study smarter with the SolutionInn App