Question $20$

Deflation is most likely to occur

during the recessionary phase of the business cycle.

when the inflation premium rises above $10$ percent.

during the expansionary phase of the business cycle.

When the central bank imposes negative nominal interest rates.

Ingram Interiors enters into a contract with Capital Enterprises to provide interior decorating and painting services for Capital's

corporate headquarters. Progress payments are made upon completion of each stage of the contract. In this scenario, Ingram should

recognize revenue related to the contract

as soon as the contract is signed.

over time.

halfway through completion of its performance obligation.

as soon as its performance obligation is fully completed.

Ingram Interiors enters into a contract with Capital Enterprises to provide interior decorating and painting services for Capital's

corporate headquarters. Progress payments are made upon completion of each stage of the contract. In this scenario, Ingram should

recognize revenue related to the contract

as soon as the contract is signed.

over time.

halfway through completion of its performance obligation.

as soon as its performance obligation is fully completed.