You are told by a friend who builds upstairs extensions to houses that he estimates the profit
Question:
You are told by a friend who builds upstairs extensions to houses that he estimates the profit on a job at the time of quoting, and recognises 10 per cent of profit each week based on the fact that most jobs take 10 weeks. Do you agree with his approach?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
The approach your friend uses to estimate and recognize profit on construction jobs while based on a certain logic may not align with generally accepted accounting principles GAAP and may have some li...View the full answer
Answered By
Faith Chebet
In the past two years many of my students have excell with the knowledge I taught them.
0 Reviews
10+ Question Solved
Related Book For 
Financial Accounting An Integrated Approach
ISBN: 9780170411028
7th Edition
Authors: Ken Trotman, Elizabeth Carson
Question Posted:
