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Accounting

Assume the percentage-of-completion method of revenue recognition is used on a long term construciton contract. Under this method, revenues that are earned but unbilled at the balance sheet date should be disclosed

a. as a long-term receivable in the noncurrent assets section of the balance sheet

b. only as a footnote disclosure until the customer is billed for the percentage of work completed

c. as construction in progress in the current assets section of the balance sheet

d. as construction in progress in the noncurrent assets section of the balance sheet

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9416083

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