Under ASPE, When Work to Be Done and Costs to Be

question 20

Multiple Choice

Under ASPE, when work to be done and costs to be incurred on a long-term contract can be estimated reliably, which of the following methods of revenue recognition is preferable?

• A) instalment method
• B) percentage-of-completion method
• C) completed-contract method
• D) zero-profit method

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Definitions:

Permanent Behavior Change

A lasting modification of behavior patterns, often as a result of intervention or significant life events.

Operant Conditioning

A learning process in which the likelihood of a behavior is increased or decreased through rewards or punishments.

Skinner

B.F. Skinner, a prominent psychologist known for his work in behaviorism and development of the theory of operant conditioning.

Pavlov

A Russian physiologist best known for his discovery of classical conditioning, where an unconditioned stimulus is paired with a conditioned stimulus to produce a conditioned response.