(CMA Adapted, Dec 92 #18) the Mining Industry Frequently Recognizes

question 130

Multiple Choice

(CMA adapted, Dec 92 #18) The mining industry frequently recognizes revenue using the completion of production method.This method is acceptable under the revenue recognition principle because
$\begin{array}{ccc}\text { Sales prices are } & \text { Assets are } & \text { Production cost } \\\text { reasonably } & \text { readily } & \text { can be readily }\\\text { assured } & \text {realizable } & \text {determined }\end{array}$

• A)\(\begin{array}{lll}
• \text { Yes } & \text { Yes } & \text { No }
• \end{array}\)
• B)\(\begin{array}{lll}
• \text { Yes } & \text { No } & \text { Yes }
• \end{array}\)
• C)\(\begin{array}{lll}
• \text { No } & \text { Yes } & \text { No }
• \end{array}\)
• D) \(\text { No } \quad \text { No } \quad \text { Yes }\)
• E)\(\text { No } \quad \text { Yes } \quad \text { Yes }\)

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