Which of the Following Is Least Likely to Be a Reason

question 141

Multiple Choice

Which of the following is least likely to be a reason why a long-term construction contract would qualify for revenue recognition over time?

• A) The customer consumes the benefit of the seller's work as it is performed.
• B) The customer controls the asset as it is created.
• C) The seller is creating an asset that has no alternative use to the seller, and the seller has the legal right to receive payment for progress to date.
• D) The seller is constructing an addition to property that is owned by the customer.

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Definitions:

Government Bureaucrat

A public official working within the administrative structure of a government, often associated with carrying out policies and decisions.

Suing

The act of bringing a legal action against an individual or entity to enforce a right or seek a remedy for a grievance.

Court

A governmental institution where legal disputes are resolved by a judge or a jury.

Courts in Canada

The judiciary system in Canada, which includes various levels of courts such as the Supreme Court of Canada, provincial, and federal courts.