Unconditional rights to receive consideration because a performance obligation has been satisfied are: Reported as contract assets Reported as Receivable Reported as contract liability Not reported in the balance sheet

Unconditional rights to receive consideration because a performance obligation has been satisfied are: Reported as contract assets Reported as Receivable Reported as contract liability Not reported in the balance sheet

Business Its Legal Ethical & Global Environment

10th Edition

ISBN:9781305224414

Author:JENNINGS

Publisher:JENNINGS

Chapter13: Contracts And Sales:performance And Remedies

Section13.2: Contract Performance

Problem 4CQ

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Question

Unconditional rights to receive consideration because a performance obligation has been satisfied are:

Reported as contract assets
Reported as Receivable
Reported as contract liability
Not reported in the balance sheet

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