Question

Which type of revenue or gain is generally recognized with the passage of time? revenue from sales. gain or loss from disposition. long-term construction contracts. revenue from fees or services.

Answer 1

Long-term construction contracts type of revenue or gain is generally recognized with the passage of time long-term construction contracts

The definition of construction is the process of making something, the obsession with building, or the way something is put together. A construction example is creating and decorating a new ice cream parlor in a former shoe store. The construction industry is an important sector that contributes significantly to the economic growth of the country. The construction industry is an investment-oriented sector in which governments are showing great interest. The government contracts with the construction industry to build infrastructure in the health, transportation, and education sectors.

These are simple construction: Residential buildings such as single-family homes and apartment complexes. Commercial buildings such as offices and warehouses. Industrial facilities such as factories and large production facilities. Infrastructure projects such as roads, bridges, airports, and sewers.

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