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63 Multiple Choice Antworten
Constraction contracts include the destruction of an asset
True
False
Under IAS 11, two or more contracts should be accounted for separately, even if they were negotiated together
True
False
What isn't obligatory to determine if the construction of a series of assets should be treated as separate contracts?
Separate proposals were submitted
The customer could use different contractors for each asset
Contracts will run concurrently or in a single sequence
Costs and revenues can be separated for each asset
A fixed price contract is a contract in which the contractor agrees to a
Fixed contract price, but must bear the escalation costs
Fixed contract price which might be subject to escalation costs
Fixed rate per unit of output which is not subject to escalation costs
Fixed rate per unit of output and bears escalation costs
Which of the following costs cannot be allocated to a construction contract cost?
Material used in construction
Rectification work
Design work
Selling costs
Architects fees for the construction of a building should not be accounted for under IAS 11
True
False
A contract in which the contractor agrees to a pre-determined contract price
Fixed price contract
Pre-defined contract
Cost plus contract
Negotiated contract
A contract in which the contractor is reimbursed for pre-defined costs, plus a percentage
Fixed price contract
Pre-defined contract
Cost plus contract
Negotiated contract
