Cartes-fiches

Cartes-fiches 63 Cartes-fiches
Utilisateurs 6 Utilisateurs
Langue English
Niveau Université
Crée / Actualisé 07.01.2020 / 08.01.2020
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Constraction contracts include the destruction of an asset

True

False

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Under IAS 11, two or more contracts should be accounted for separately, even if they were negotiated together

True

False

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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 

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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

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Which of the following costs cannot be allocated to a construction contract cost?

Material used in construction 

Rectification work 

Design work

Selling costs

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Architects fees for the construction of a building should not be accounted for under IAS 11

True

False

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A contract in which the contractor agrees to a pre-determined contract price

Fixed price contract

Pre-defined contract 

Cost plus contract 

Negotiated contract 

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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