A、Conversely; firm
B、. On the other hand; staunch
C、On the contrary; resolute
D、Conversely; determined
A、Conversely; firm
B、. On the other hand; staunch
C、On the contrary; resolute
D、Conversely; determined
A、destroyed
B、discarded
C、validated
D、preserved
Yling Co entered into a contract in respect of which performance obligations are satisfied over time on 1 January 20X4. The contract is expected to last 24 months. The price which has been agreed for the contract is $5 million. At 30 September 20X4 the costs incurred on the contract were $1.6 million and the estimated remaining costs to complete were $2.4 million. On 20 September 20X4 Yling Co received a payment from the customer of $1.8 million which was equal to the total of the amounts invoiced. Yling Co calculates the stage of completion of its performance obligations on contracts on the basis of amounts invoiced to the contract price. What amount would be reported in Yling Co's statement of financial position as at 30 September 20X4 as the contract asset arising from the above contract?
A、Nil
B、$160,000
C、$800,000
D、$200,000
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