Which of the Following Is Not True About Revenue Recognition

question 167

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 or 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 or services included for each project.

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