Which of the Following Is NOT Necessary in Order to Recognise

question 14

Multiple Choice

Which of the following is NOT necessary in order to recognise revenue under the percentage of completion method?

• A) Total costs for the project are reasonably determinable.
• B) The contract price (total revenue)must be reasonably certain.
• C) There must be a reasonable assurance of payment.
• D) Engineering estimates of the percentage of completion have been made.

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Definitions:

Paired-comparison Method

A technique used in research and decision-making that involves comparing each entity in a set with every other entity in pairs to judge which is preferable or has a certain characteristic to a greater degree.

Comparing

The act of evaluating two or more items to determine similarities, differences, or the relative merit of each.

Rankings

Lists or grading systems that arrange items or entities in order based on certain criteria, often used for comparison or evaluation purposes.

Feedback

Involves providing information or opinions about someone's performance or work, aiming to reinforce strengths or identify areas for improvement.