According to U.S. GAAP, if a firm can reliably estimate the total revenue and total cost of a long-term contract, which of the following revenue recognition methods should be used？

A、Financing only

B、Either operating or financing

C、Operating only

A.A long-lived asset reclassified as held for sale from held for use need not do the impairment test when reclassified.

B.Under US GAAP, assessing recoverability of a long-lived asset is separate from calculating the impairment loss.

C.Under US IFRS, the loss can be reversed if the value of the impaired asset recovers in the future with no limitation.

此题为判断题(对，错)。

A、Reported as an operating cash outflow.

B、Reported as a financing cash outflow.

C、Reported as part operating cash outflow and part financing cash outflow.

A.S.GAAP IFRS

B.No No

C.No Yes

D.Yes No

A．a contract is signed to perform a service or deliver a good

B．the transaction is complete and the goods or services are delivered

C．payment is requested

D．income taxes are paid

A、Higher cash flow from operations.

B、Lower cash flow from investing activities.

C、Higher cash flow from financing activities.

A、IFRS,a classified balance sheet must present current assets before non-current assets.

B、US GAAP,intangibles must be valued at historical cost.

C、IFRS,a commercial real estate company should use a liquidity based presentation.

A、The carrying amounts of inventories carried at fair value less costs to sell

B、The amount of the reversal of any write-down of inventories

C、The amount of inventories recognized as an expense during the period

A. grows primarily through acquisitions.

B. develops its patents and processes internally.

C. invests a substantial amount in new capital assets.