The Principal Disadvantage of Using the Percentage of Completion Method

question 30

Multiple Choice

The principal disadvantage of using the percentage of completion method of recognizing revenue from long-term contracts is that it

• A) Is unacceptable for income tax purposes
• B) May require that intraperiod tax allocation procedures be used
• C) Gives results bases upon estimates that may be subject to considerable uncertainty
• D) Is likely to assign a small amount of revenue to a period during which much revenue was actually earned

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Emotional Shape

The current state or condition of one's emotional well-being and emotional resilience.

Career Goals

Long-term professional objectives or aspirations that an individual wishes to achieve in their career.

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A stage of life typically ranging from about age 40 to 65, characterized by stability, maturity, and an increased focus on personal and professional achievement.

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