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Q. Revenue Recognition on Long-term Construction Projects?
Revenue Recognition on Long-term Construction Projects Company identifies revenue from a long-term construction project under two different methods (a) the completed-contract method or (b) the percentage-of-completion method. The completed-contract method doesn't recognize any revenue until the project is completed. In that period they make out all revenue even though the contract may have required three years to complete. Consequently the completed-contract method recognizes revenues at the time of sale as is true for most sales transactions. Companies hold costs incurred on the project forward in an inventory account (Construction in Process) and charge them to expense in the period in which the revenue is recognized. Some accountants squabble that waiting so long to recognize any revenue is unreasonable. They believe that for the reason that revenue-producing activities have been performed during each year of construction revenue must be recognized in each year of construction even if estimates are needed.
Q. Microorganisms on basis of oxygen requirement for growth? On basis of oxygen requirement for growth: - Obligate Aerobes: Require oxygen for growth and multiplication e.g
Why does having three color receptors (a.k.a. opsins) lead to a more complex color perception than just two?
Nucleic acid hybridization: This is a process by which a suitably labeled DNA or RNA from a known infectious agent is used to probe its complementary sequence unique to t
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In experimental studies, gene therapy has been shown to improve failing human myocardial function. The abnormal function of myocytes obtained from patients with dilated cardiomyop
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Which type of reproductive structure has a better chance of survival if there was a sudden temperature change in its environment?
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