Which of the Following Is NOT Necessary in Order to Recognise

question 14

Multiple Choice

Which of the following is NOT necessary in order to recognise revenue under the percentage of completion method?

• A) Total costs for the project are reasonably determinable.
• B) The contract price (total revenue)must be reasonably certain.
• C) There must be a reasonable assurance of payment.
• D) Engineering estimates of the percentage of completion have been made.

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Definitions:

Explosive Materials

Substances that cause violent chemical reactions producing heat, light, gases, and pressure with the potential to do work on surroundings.

Major Organic Product

The primary outcome of a chemical reaction, especially notable in reactions involving organic compounds, indicating the most abundant product formed.

Major Organic Product

The primary product of an organic reaction, usually the one in higher yield or that is thermodynamically most stable.

Reasonable Mechanism

A reasonable mechanism in chemistry is a proposed sequence of steps that explains how a chemical reaction occurs, based on established principles and experimental evidence.