The statement regarding IAS 11/AASB 111 'Construction Contracts 'that is not true with respect to revenue recognition is:
A) The standard adopts the 'stage of completion' method
B) It is recommended that revenues and associated costs be recognised only when they can be 'clearly estimated'
C) Revenues and expenses are recognised in the financial years in which the construction activities are performed
D) None of the above,i.e.all are true statements
Correct Answer:
Verified
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