Answer: D. Recognize the loss in the current period rather than over the remaining term of the engagement
Explanation:
A fixed rate contract is the contract whereby the payment amount isn't dependent on the resources or the time that were used.
Since there's evidence that a fixed-rate contract is over budget and will generate a loss for the firm, the manager should recognize the loss in the current period rather than over the remaining term of the engagement.
Therefore, the correct option is D.
I'm going with false. Let me know.
Answer:
Exporting.
Explanation:
Exporting is the process where goods and sert are produced on one country and sold to buyers in another country. Usually contries produce goods they in which they incur low cost compared to other countries for export.
Home of households produces smaller washers and dryers for countries where consumers have less living space. So they are exporting.
Which accounting principle dictates whether the cost of a repair should be expensed?
d. matching
As per matching concept, All revenues have to be recorded along with expenses incurred to earn those revenues. Thus, revenues need to be accounted.
The physical count is used to bring the inventory balance in the Inventory account up to date.furthermore, The actual count is utilized to decide whether there has been any burglary, misfortune, harm or mistakes in stock.
How is Days Sales of Inventory calculated?
Days Sales of Inventory is calculated as follows:Days Sales of Inventory = COGS x (Average Inventory x 365).
What exactly is Days Sales of Inventory, or DSI?
A financial ratio known as days sales of inventory (DSI) depicts the average number of days it takes a company to sell its inventory, including work in progress goods.
Learn more about Sales of Inventory here:
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