tbch07 -  C HAPTER 7  Complexities of Revenue...

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Unformatted text preview:  C HAPTER 7  Complexities of Revenue Recognition M ULTIPLE C HOICE Q UESTIONS Theory/Definitional Questions 1 Revenue recognition criteria 2 Revenue recognition criteria 3 International revenue recognition criteria 4 Proportional performance method of revenue recognition 5 Proportional performance method of revenue recognition 6 Use of percentage-of-completion method 7 Presentation of progress billings and construction in progress 8 Applying percentage-of-completion method 9 Applying completed-contract method 10 Applying percentage-of-completion method 11 Use of installment method 12 Disclosure of earned but unbilled revenues 13 Gross profit deferred under the installment sales method 14 Uses of completed-contract method 15 Elements necessary for use of percentage-of-completion method 16 Percentage-of-completion and completed-contract methods of accounting 17 Percentage-of-completion method of accounting for long-term construction 18 Percentage-of-completion method of accounting for long-term construction 19 Percentage-of-completion method of accounting for long-term construction 20 Percentage-of-completion and completed-contract methods of accounting 21 Use of cost recovery method 22 Recognition of franchise fees 23 Goods on consignment-inventory of consignor 24 Recognition of sales and cost of goods sold of consigned goods 25 Recognition of progress billings under percentage-of-completion method 26 Comparison of asset balances under percentage-of-completion and completed- contract methods Computational Questions 27 Computation of contract costs under percentage-of-completion method 229 230 Chapter 7  Complexities of Revenue Recognition 28 Computation of recognized income under percentage-of-completion method 29 Computation of loss recognized under percentage-of-completion method 30 Computation of recognized income under percentage-of-completion method 31 Reporting assets/liabilities under completed-contract method 32 Computation of gross profit using percentage-of-completion method 33 Computation of gross profit using percentage-of-completion method 34 Computation of gross profit under completed-contract method 35 Computation of gross profit under percentage-of-completion method 36 Computation of balance in Construction in Progress using percentage-of- completion method 37 Computation of loss using percentage-of-completion method 38 Computation of gross profit using installment sales method 39 Computation of balance in Construction in Progress using completed- contract method 40 Computation of cash collected on contract given balances 41 Computation of realized gross profit under installment method 42 Computation of total installment sales for year 43 Computation of balance of deferred gross profit account 44 Computation of revenue from franchise fees 45 Computation of realized gross profit under installment method 46 Computation of amount of consignment sales revenue 47 Computation of contract costs under percentage-of-completion method...
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This note was uploaded on 11/01/2011 for the course ACC 200 taught by Professor Minliu during the Spring '11 term at Universidad Europea de Madrid.

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tbch07 -  C HAPTER 7  Complexities of Revenue...

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