The Percentage-Of-Completion Method Must Be Used When Certain Conditions Exist

question 33

Multiple Choice

The percentage-of-completion method must be used when certain conditions exist.Which of the following is not one of those necessary conditions?

• A)Estimates of progress toward completion, revenues, and costs can be estimated reliably.
• B)Total contract revenue can be measured reliably.
• C)The buyer can be expected to satisfy some of the obligations under the contract.
• D)It is probable that the economic benefits associated with the contract will flow to the company.

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Definitions:

Carl Jung's Typology

A theory of personality that categorizes people into psychological types based on their preferences in perceiving the world and making decisions.

Intuitive

People who are more comfortable with theories, abstraction, imagination, and speculation.

Thinker

A person who likes to analyze problems using facts and rational logic.

Extrovert

A person who is outgoing, social, optimistic, and often uncomfortable with being alone.