[Solved] Which of the Following Is Not True About Revenue Recognition

Question 159
Multiple Choice

Which of the following is not true about revenue recognition with respect to long-term construction contracts?

A)Long-term construction contracts often are viewed as having a single performance obligation,because goods and services fail the "separately identifiable" criterion.
B)Long-term construction contracts often satisfy the criteria for recognizing revenue over time.
C)Long-term construction contracts require accounting for construction in progress as well as billings to customers.
D)Long-term construction contracts typically include multiple performance obligations because of all the different types of goods and services included for each project.

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