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polet [3.4K]
3 years ago
8

For long-term contracts, the cost recovery method under IFRS requires recognizing equal amounts of revenue and cost until all co

sts are recovered.
a. True
B. False
Business
1 answer:
Sav [38]3 years ago
8 0

Answer:

The answer is letter A. TRUE

Explanation:

Because under IFRS firms tipically use the cost recovery method iif they conclude that the percentage of completion method is not appropriate to account for a long term contract.

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