Which of the following would be used in the calculation of the gross profit recognized in the third and final year of a construction contract that is accounted for using the percentage-of-completion method?
Definitions:
Negotiability
Refers to the feature of some financial instruments or documents which allows them to be transferred or assigned from one party to another in a way that the recipient obtains a good title to the instrument.
Code
A system of principles or rules, often in written form, which is established by a particular country, organization, or community for governance.
Ambiguity
The presence of uncertainty or vagueness in language, making interpretation difficult in legal documents or situations.
Written Amount
The numerical representation of value or money in written form within a document.
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