T Corporation signed an agreement with the city of St.Lansberg to manufacture 50,000 seats for the city's new baseball stadium.T does not carry this type of seat in inventory but will custom make the unique seat to the city's specifications.Assuming manufacture of the seats is not complete at the close of T's taxable year, the contract will be considered a long-term contract.

Question

Quizplus · Accepted Answer

According to the information provided, the contract for manufacturing 50,000 seats for the new baseball stadium is a long-term contract because the manufacture of the seats is not complete at the close of T's taxable year.

T Corporation Signed an Agreement with the City of St