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1. Why the counterclaim cannot be regarded as a contingent asset but its modified of contract?
2.”Therefore the contract is a performance obligation which has been satisfied as assets are only recognised in relation to satisfying future performance obligations”.
Do the assets refer to receivables?
Thank you.
This is old syllabus please can you give me a reference in your revision kit
Carsoon Co, no quoting the page no as using a different version of the kits, please refers to yours
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