The following is a diagram of the earnings cycle as presented by Coombes and Martin (1982). In the traditional historical-cost accounting model,at what point has revenue been recognised for long-term construction contracts in the building industry?

Question

The following is a diagram of the earnings cycle as presented by Coombes and Martin (1982).  In the traditional historical-cost accounting model,at what point has revenue been recognised for long-term construction contracts in the building industry?

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The Answer of The following is a diagram of the earnings cycle as presented by Coombes and Martin (1982).  In the traditional historical-cost accounting model,at what point has revenue been recognised for long-term construction contracts in the building industry?

The Following Is a Diagram of the Earnings Cycle as Presented