Which of the Following Is Not True About Revenue Recognition

question 36

Multiple Choice

Which of the following is not true about revenue recognition with respect to long-term construction contracts?

• A)Long-term construction contracts often are viewed as having a single performance obligation,because goods and services fail the "separately identifiable" criterion.
• B)Long-term construction contracts often satisfy the criteria for recognizing revenue over time.
• C)Long-term construction contracts require accounting for construction in progress as well as billings to customers.
• D)Long-term construction contracts typically include multiple performance obligations because of all the different types of goods and services included for each project.