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  • Conceptual Framework Questions

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    ALPHA
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    The document discusses the classification of assets under different procurement models for defense contracts. It states that assets procured directly by the defense company and reimbursed would be classified as contract work-in-progress, while buyer-furnished equipment delivered free of cost for installation cannot be considered inventory or part of revenue since the company did not purchase those assets. The key points are around what types of defense contract costs qualify as contract work-in-progress versus those that do not factor into the company's accounts.

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    Conceptual framework questions

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    The document discusses the classification of assets under different procurement models for defense contracts. It states that assets procured directly by the defense company and reimbursed would be classified as contract work-in-progress, while buyer-furnished equipment delivered free of cost for installation cannot be considered inventory or part of revenue since the company did not purchase those assets. The key points are around what types of defense contract costs qualify as contract work-in-progress versus those that do not factor into the company's accounts.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    10 views7 pages

    Conceptual Framework Questions

    Uploaded by

    ALPHA
    The document discusses the classification of assets under different procurement models for defense contracts. It states that assets procured directly by the defense company and reimbursed would be classified as contract work-in-progress, while buyer-furnished equipment delivered free of cost for installation cannot be considered inventory or part of revenue since the company did not purchase those assets. The key points are around what types of defense contract costs qualify as contract work-in-progress versus those that do not factor into the company's accounts.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 7

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