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The appropriate method of accounting for a contractor on his long-term construction contract (i.e., it takes more than a year to finish) is: (2012…

2012 Bar Exam · Taxation Law · Question 13 · Multiple choice

The question

The appropriate method of accounting for a contractor on his long-term construction contract (i.e., it takes more than a year to finish) is: (2012 Bar Question)

  1. A.Cash method;
  2. B.Accrual method;
  3. C.Installment sale method;
  4. D.Percentage of completion method.

This question has not been answered yet.