Construction costs and profits in excess of billings are carried on the balance sheet as a(n) ________.
A) asset
B) liability
C) equity
D) revenue

Name: Construction costs and profits in excess of billings are carried on the balance sheet as a(n) ________. A) asset B) liability C) equity D) revenue
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Question

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Construction costs and profits in excess of billings are considered an asset because they represent work done and profits earned that have not yet been billed to the customer.

Construction Costs and Profits in Excess of Billings Are Carried