How should the balances of Progress Billings and Construction in Progress be shown at reporting dates prior to the completion of a long-term contract?
a. Progress Billings as income, Construction in Progress as inventory
b. Net, as income from construction if credit balance, and loss from construction if debit balance
c. Progress Billings as deferred income, Construction in Progress as a current asset
d. Net, as a current asset if debit balance and current liability if credit balance
D
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Which statements about workplace research projects are true?
What will be an ideal response?
Recommendations in a marketing research report amount to:
A) suggestions on how to proceed, based upon the conclusions B) guidelines on how to proceed, based upon the conclusions C) suggestions on how to proceed, based upon the limitations D) guidelines on how to proceed, based upon the limitations E) viewing the future and should always be avoided