Examlex
Construction costs plus gross profit earned to date from a construction contract are accumulated in the construction in progress account less progress billings and these are disclosed in the liability section of the statement of financial position.
Legality
The state or condition of being in accordance with the law or legal requirements.
Alternative Dispute Resolution
A range of procedures, such as mediation and arbitration, used to resolve disputes without resorting to traditional court litigation.
Litigation
The process of taking legal action in a court of law to resolve disputes between parties.
Expensive
Involving a high cost or requiring considerable expenditure.
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