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[CFA level 1模拟真题]Version 5 Questions-Q23

Q23

 

Year 1

Year 2

Year 3

Costs incurred and paid

$1,200,000

$2,700,000

$5,00,000

Amounts billed and payments received

$1,100,000

$2,800,000

$1,400,000

What is the cumulative effect of the contract on the cash balance that would have been recorded on the company's balance sheet at the end of Year 2 using the:

 

Percentage-of-completion method?

Completed contract method?

A

$0

$0

B

$0

$100,000

C

$100,000

$0

D

$100,000

$100,000

答案详解如下:

Q23.  A Study Session 7-34-c

The amount of cash recorded is identical for both methods and is equal to the total cash received less total costs incurred. At the end of Year 2, a total of $3.9 million had been billed for and collected and $3.9 million in costs had been incurred.

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??

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11

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c

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a

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c

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a

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a

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d

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