AASB 111 'Construction Contracts' Requires the Use of the Percentage

question 8

Multiple Choice

AASB 111 'Construction Contracts' requires the use of the percentage of completion method when:

• A) the outcome of the construction contract is relevant
• B) the outcome of the construction contract can be easily recognised under the fair value method
• C) the outcome of the construction contract can be estimated reliably
• D) none of the above

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