gdorn5992 gdorn5992

07-12-2019
Business

contestada

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

a. True
B. False

Respuesta :

VirginiaFelix VirginiaFelix

07-12-2019

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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