Question

the primary objective of ---- is the allocation of contract revenue and contract cost
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Answer 1

Answer:

good

Explanation:

good

hello friends

Answer 2

Answer:

The allocation of contract revenue and contract cost is the primary goal of AS 7.

Explanation:

• Those transactions that can be represented in cash are adequately taken into account in accounting.

• Accounting standards also specify how certain transactions should be handled.

• This standard lays forth how to handle income and expenditures in accounting.

• The purpose of this accounting standard is to determine how building contract income and expenditures should be documented.

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