What accounting standard it will refer to for revenue

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Reference no: EM133538065

Question: Explain whether the new complex would meet the IASB's proposed definition of an asset once it has been constructed. 3 marks b) Advice the Construction Company what accounting standard it will refer to for revenue recognition and how to recognise for contract revenues and expenses. 3 marks c) Assume that soon after the complex opens, a customer sues Damodar Group for $3,000 alleging she fell off a seat and injured herself at one of its cinemas. Advise Damodar Group whether to recognise a liability

Reference no: EM133538065

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