REVENUE RECOGNITIONS

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July 13, 2021 at 3:47 pm #627634
shaunak22
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When a contract is in loss(ONEROUS CONTRACT) the whole loss amount is recognized as provision?
July 14, 2021 at 8:48 pm #627768
P2-D2
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Yes, that is correct as the cost of fulfilling the contract exceeds the benefits of continuing with it.

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