Under the Percentage-Of-Completion Method, How Should Earned but Unbilled Revenues

question 283

Multiple Choice

Under the percentage-of-completion method, how should earned but unbilled revenues on a long-term contract be disclosed on the statement of financial position?

• A)as construction in process in the current asset section
• B)as construction in process in the noncurrent asset section
• C)as a receivable in the noncurrent asset section
• D)in a note to the financial statements until the customer is formally billed for the portion of
• Work completed

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