What the principal factor to be considered should be

Assignment Help Accounting Basics
Reference no: EM132680318

Problem 1: Under ASPE, when selecting an accounting method for a newly contracted long-term construction project, the principal factor to be considered should be

1- the terms of payment in the contract.

2- the inherent nature of the contractor's technical facilities used in construction.

3- the method commonly used by the contractor to account for other long-term construction contracts.

4- the degree to which a reliable estimate of the costs to complet and extent of progress toward completion can be made.

Problem 2: Under ASPE, when selecting an accounting method for a newly contracted long-term construction project, the principal factor to be considered should be

1-the terms of payment in the contract.

2- the inherent nature of the contractor's technical facilities used in construction.

3- the method commonly used by the contractor to account for other long-term construction contracts.

4- the degree to which a reliable estimate of the costs to complet and extent of progress toward completion can be made.

Reference no: EM132680318

Questions Cloud

Compute the ratio of net sales to assets : Kroger, a national supermarket chain, reported the following data - Total assets at end of year 23,211. Compute the ratio of net sales to assets
Which the risk that the customer will not pay is called : Where there are potentially multiple performance obligations within a single contract, if products or services are interdependent and interrelated, they must be
Have evaluated the expected impact of the change : Changing access controls can have some undesirable effects. Therefore, it is important to carefully consider changes before making them and provide mechanisms.
What is the firm market-to-book ratio : Black Dahlia Corp.'s total common equity is $114.72 million. The company has 6.69 million shares outstanding. What is the firm's market-to-book ratio?
What the principal factor to be considered should be : Under ASPE, when selecting an accounting method for a newly contracted long-term construction project, the principal factor to be considered should be
Explain the significance of marbury v. madison : Explain the significance of Marbury v. Madison. What is case precedent and what is it important to the court system?
What amount of gross profit should manson recognize : Manson Construction Corp, Under the earnings approach, what amount of gross profit should Manson recognize in 2020 on this contract
Firm sustainable growth rate-acme sports management : Acme Sports Management has an ROE of 15.7%, a D/E ratio of .75, and sustains a dividend yield of 2.75% with a DPR of 64.6%. If the risk-free rate is 3.25%
American politics in terms of impacting election : Determine three roles that interest groups play in American politics in terms of impacting election outcomes. What about the largest interest group.

Reviews

Write a Review

Accounting Basics Questions & Answers

  George corporation has an estimated monthly sales of 6000

george corporation has an estimated monthly sales of 6000 units for 40 per unit. variable costs include manufacturing

  Dreary days inc sells raincoats at a selling price of 2500

dreary days inc. sells raincoats at a selling price of 25.00 for each raincoat. the variable cost per raincoat is

  Moravia company processes and packages cream cheese the

moravia company processes and packages cream cheese. the following data have been compiled for the month of april.

  Fund-raising campaign

Radio, TV, and newspaper advertising related to a special fund-raising campaign ran during May. The 7,550 costhad been paid in April.

  Problem regarding the privatization

A. Explain how breaking the public-school monopoly on access to public funding could help improve the quality of public- and private-school primary education. B. Explain why primary-school privatization might not create such benefits.

  Calculate the balance of each partners capital account

Record the transaction on September 30, 2021 admitting Walker into the partnership. Prepare a statement of partners' equity for 2021.

  Listed below are the transactions of the wake up call

listed below are the transactions of the wake up call coffee inc. for the month of september2012. ??? sept 1 ? ?

  Top-quality stores inc owns a nationwider chain of

top-quality stores inc. owns a nationwider chain of supermarkets. the company is going to open another store soon and a

  What is the effect on the journal entries

Question - Bets Company purchased $44,000 of direct materials from Pepe's company. What is the effect on the journal entries

  The amount of overhead applied to the product exceeds the

the amount of overhead applied to the product exceeds the amount incurred is the difference called underapplied

  What is the cost of the asset being depreciated

What is the cost of the asset being depreciated?An employee has prepared depreciation schedules for this asset using three different methods

  What amount should be reported in the income statement

Ignoring income taxes, what amount should be reported in the 2010 income statement as the net income or loss under ' discontinued operations ' ?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd