In Selecting an Accounting Method for a Newly Contracted Long-Term

question 87

Multiple Choice

In selecting an accounting method for a newly contracted long-term construction project, the principal factor to be considered should be

• A) the terms of payment in the contract.
• B) the degree to which a reliable estimate of the costs to complete and extent of progress toward completion is practicable.
• C) the method commonly used by the contractor to account for other long-term construction contracts.
• D) the inherent nature of the contractor's technical facilities used in construction.

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Definitions:

Breakout Sessions

Smaller, focused discussions or workshops that are part of a larger conference or event, allowing for more specialized engagement.

Conference Tables

Large tables designed to accommodate multiple individuals during meetings, discussions, or collaborative work sessions.

Presentation Software

Computer programs used to create slideshows or multimedia presentations to display information visually.

Linear Flow

A sequential process or progression where each step follows the previous one in a straight line.