[CFA level 1模拟真题]Version 5 Questions－Q23 face, border, medium

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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

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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.

liquidn

??

fantasy_ln

11

technet

c

vivian1022

a

47dx

c

shenyue

a

ondesert

a

roger88

d