Under the Completed Contract Method

question 57

Multiple Choice

Under the completed contract method

• A) revenue and cost are recognized during the production cycle, but gross profit recognition is deferred until the contract is completed.
• B) revenue, cost, and gross profit are recognized during the production cycle.
• C) revenue, cost, and gross profit are recognized at the time the contract is completed.
• D) none of these

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Definitions:

Organizational Behaviour

The study of how people interact within groups, particularly the workplace, and how this affects the performance of businesses.

Punishment

A penalty or negative consequence imposed for disobedience, wrongdoing, or other undesirable behavior.

Positive Reinforcement

A technique in behavior management that involves rewarding a desired behavior, thereby increasing the likelihood that the behavior will occur again.

Negative Reinforcement

A method of increasing the probability of a behavior by removing or avoiding a negative condition or stimulus following the desired behavior.