Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. when accounting for revenue over time for a long-t

When accounting for revenue over time for a long-term contract, the percentage of completion used...

70.2K

Verified Solution

Question

Accounting

When accounting for revenue over time for a long-term contract, the percentage of completion used to recognize revenue in the first year usually is determined by measuring:

Multiple Choice

  • Costs incurred in the first year, divided by estimated remaining costs to complete the project.

  • Costs incurred in the first year, divided by estimated total costs for the completed project.

  • Costs incurred in the first year, divided by estimated gross profit.

  • Costs incurred in the first year, divided by estimated total costs to be incurred in the remaining years of the project.

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

Geometry
1.2K views

10x 55 X 45 Type of Angles Given Select Select

Biology
1.2K views

5. List the most important enzyme and the inputs and outputs of the Calvin cycle. 6....

Physics
1.2K views

Q17 The gravitational field in a region is given by E 31 41 N kg...

Geometry
1.2K views

In the figure below, O is between M and P, and N is the midpoint...

Algebra
1.2K views

If a sample mean is 92 which of the following is most likely the range...

Algebra
1.2K views

1 point Solve the inequality statement 4r 5 5r 7 Or Or 12 Or 12...

Algebra
1.2K views

Macmillan Learning Write the polynomial P x with zeros x 2 and x 6 and...

Accounting
1.2K views

Exercise 16-3 (Algo) Financial Ratios for Asset Management...

Accounting
1.2K views

Estimating the Cost of Debt Capital Kellogg Company manufactures cereal and other convenience food under...

Accounting
1.2K views

4. Required information Skip to question [The following information applies to the...

Accounting
1.2K views

Question 1 (10 marks) Describe the two broad levels of diversity in a work place...

Accounting
1.2K views

help, dont know what to do replace the employee or...