Question
Which of the following accounting changes shall be treated retrospectively instead of prospectively by the long-term construction contractor? Change in the estimated costs to complete
Which of the following accounting changes shall be treated retrospectively instead of prospectively by the long-term construction contractor?
Change in the estimated costs to complete the contract.
Change from percentage of completion to cost recovery method or vice versa.
Change in the estimate of the outcome of the contract.
Change in construction revenue.
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College Accounting A Contemporary Approach
Authors: David Haddock, John Price, Michael Farina
4th edition
978-1259995057, 1259995054, 978-0077503987, 77503988, 978-0077639730
