Explain what onerous contracts are and how they are accounted for.

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Intermediate Accounting Volume 2

ISBN: 9780135220498

4th Edition

Authors: Kin Lo, George Fisher

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Question Posted: Oct 31, 2022 05:01 AM

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Explain what onerous contracts are and how they are accounted for.

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Onerous contracts are those where the costs of fulfilling the contract exceed the benefits expected ...View the full answer

Intermediate Accounting Volume 2

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