The cost-plus approach: a. refers to contracts that are modified from their original terms during the course of the contract. b. refers to contracts where the contractor is not expected to recover all...


The cost-plus approach:



a. refers to contracts that are modified from their original terms during the course of the contract.



b. refers to contracts where the contractor is not expected to recover all costs incurred in completing the project.



c. is not allowed under ASC Topic 606 guidance for revenue recognition.



d. uses an assumed reasonable profit margin to determine the stand-alone price.



Jun 10, 2022
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