Allocate a contract’s transaction price to multiple performance obligations.

Q: How is the total payment under a unit-price contract determined? When is such a contract likely to…

A: Unit price contract is a common pricing contract which is based on each unit or task of the…

Q: Define competitive bids (security offerings)

A: Competitive bidding is the procedure where multiple vendors are invited to offer their prices for…

Q: what is fixed-price contract, and what are the benfit of chosing it

A: A contract where the price is fixed as negotiated by the parties is known as a Fixed Price Contract.…

Q: Which of the following should be avoided in a contract if cost certainty is important?…

A: Several options have been proposed as the clause that should be avoided in a contract if cost…

Q: Define the term Contract Modifications.

A: Accounting: Accounting is an art of collecting, recording, summarizing and presenting the financial…

Q: How is the contract-based approach (IFRS) and the earnings approach (ASPE) used for allocating the…

A: The contract-based approach, as defined in IFRS 15 (Revenue from Contracts with Customers), is a…

Q: Calculate the issue price

A: Bond may be issued at discount at face value or at premium. It depends upon market rate of interest…

Q: Describe the statement Cost breakdown of lump -sum Bids?

A: Statement of cost breakdown is prepared to determine the individual elements that include the total…

Q: Csn you incorporate Transactional pricing in the same agreement as formula pricing and why or why…

A: Answer Concept  Transactional pricing is  the pricing model in which customers are charged on the…

Q: When there are potential multiple obligations within a single contract, and the products or services…

A: As per IFRS 15 -Revenue recognition- The principal of recognition of revenue is  1. Identify the…

Q: Conceptually, how would you evaluate a quantity discount offerfrom a supplier?

A: