When Both the Total Profit on the Contract and the Progressive

question 66

Multiple Choice

When both the total profit on the contract and the progressive degree of completion during construction can be reliably estimated,a construction firm should record income on a long-term construction project using the:

• A)percentage of completion method.
• B)sales method.
• C)instalment method.
• D)collection method.

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Definitions:

Practice Manager

An individual responsible for overseeing the business operations of a medical or dental practice, ensuring its efficient functioning.

Subjective

(1) When referring to charting, information is supplied by the patient and includes routine information about the patient, past personal and medical history, family history, and chief complaint; (2) Relating to the person who is thinking, saying, or doing something; personal; of a disease symptom, felt by the individual but not perceptible to others.

Observable

Capable of being seen or noticed; able to be observed.

Face-To-Face

Direct interaction between two or more people in the same physical space, as opposed to virtual or remote interaction.