Which of the Following Is Not True About Accounting for Long-Term

question 117

Multiple Choice

Which of the following is not true about accounting for long-term construction contracts?

• A)Long-term construction contracts could show a contract asset or contract liability,depending on the relation between construction in progress and billings.
• B)Billings on contracts in progress is a contra account to accounts receivable.
• C)Gross profit is debited to construction in progress.
• D)When a customer is billed for payment due,billings on contracts in progress is credited at the same time accounts receivable is debited.

Discuss the consequences of the Salem Witch Trials on colonial justice and societal perceptions.

Comprehend the nuances of slave resistance in colonial America and its impact on slaveholder practices.

Assess the transformations in Massachusetts following its conversion to a royal colony.

Examine the significance of the English Toleration Act and its effects on various colonial constituencies.

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Definitions:

NLRB

The National Labor Relations Board, a U.S. government agency that enforces US labor law in relation to collective bargaining and unfair labor practices.

Petition

A formal written request, typically signed by multiple individuals, appealing to authority with respect to a particular cause.

Election

The formal process of selecting a candidate for office or deciding on a proposal by casting ballots.

Certification Election

A formal process in which employees vote to determine whether they wish to be represented by a labor union.