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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.
The use and transfer of energy in all cells involves same compound, ATP. The letters ATP stand for chemical: a) Adenosine triphosphate b) Aluminum trioxide c) Atrophine t
Q. What is bathing in Cerebro-Spinal Fluid? The CNS is bathing in Cerebro-Spinal Fluid (or CSF): similar to plasma, less protein, rich in ascorbic acid, different in ions Na+
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Explain about Simple proteins Simple proteins are those which are made of amino acid units only joined by peptide bond. Upon hydrolysis they yield a mixture of amino acids and
what is lateral inhibition
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