Which of the following statements is correct regarding long-term construction contracts?
A) ASPE only allows the use of the completed-contract method.
B) ASPE only allows the use of the percentage-of-completion method.
C) IFRS only allows the use of the percentage-of-completion and the zero-profit method.
D) IFRS allows the use of the percentage-of-completion and the zero-profit method, but
Does not preclude the use of the completed-contract method.
Correct Answer:
Verified
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