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antoniya [11.8K]
2 years ago
12

When accounting for a long-term construction contract under IFRS, if the percentage-of-completion method is not appropriate, the

seller should account for revenue using:
Business
1 answer:
IRISSAK [1]2 years ago
8 0

When accounting for a long-term construction contract under IFRS, if the percentage-of-completion method is not appropriate, the seller should account for revenue using "cost recovery method".

<h3>What is cost recovery method?</h3>

According to the "Cost Recovery Rule," any excess cash value (cost basis) over premium payments that results from a partial withdrawal of cash or a policy surrender is taxable income.

Calculation for cost recovery method includes:

  • the product's operating expenses, such as those for hardware, software, and labour, should all be added up.
  • Analyse whole revenue, regardless of whether a client made a lump-sum payment or several instalments.
  • To calculate the profit, deduct the cost of products from whole sales.

To know more about the lump-sum payment, here

brainly.com/question/23220127

#SPJ4

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Employees arrive at a cafeteria according to a Poisson process at an average rate of 30 employees per hour. The probability that
Juliette [100K]

Answer:

a. 0.223

Explanation:

Calculation for the Probability that after one employee arrives, the next one will arrive at least 3 minutes

Since no one comes in 3 minutes,hence:

3minutes/60 =1/20 hours

Thus, the Probability will be calculated as:

Probability=e^20/30

Probability=0.223

Therefore the Probability that after one employee arrives, the next one will arrive at least 3 minutes will be 0.223

6 0
3 years ago
Some experts recommend devoting about ________ of the total writing time to the third phase of the writing process.
klemol [59]

Answer:

50%

Explanation:

There are 3 stages of writing namely; pre writing, composing, post writing. 50% of the total writing time is recommended by experts to be devoted to the post writing phase to ensure that the writing is error free and well revised. This allows for a interesting read of the final product. This third phase mainly involves revising/editing and proofreading.

Cheers.

6 0
3 years ago
Patti would like more information about product recalls. Which of the following resources would not be reliable and relevant?
dolphi86 [110]
Recalls happen on products that have been put out in the market and then issues with the product or certain pieces/parts used to make them have been found. Depending on the type of recall happening you can search for it to see what and where the recall is listed. For example, if there is a car recall, you can search it on recalls.gov under motor vehicles. If there is a recall on food products, you can find that listed under food. 
8 0
3 years ago
The combination of debt financing and equity financing that maximizes a firm's value is known as its:
ohaa [14]

Answer:

optimal capital structure

Explanation:

optimal capital structure can be regarded as a combination of

of debt and equity financing which brings about maximization of amarket value in a firm. It should be noted that optimal capital structure is the combination of debt financing and equity financing that maximizes a firm's value.

5 0
3 years ago
Franklin has $2,500 in a savings account that pays interest at the rate of 4% annually. how much interest will he earn after one
prohojiy [21]
Interest earned=2,500×0.04=100
7 0
3 years ago
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