Springthorpe entered into a three-year contract on 1 January 20X2 to build a factory. This is a contract where performance obligations are satisfied over time. The percentage of performance obligations satisfied is measured according to certificates issued by a surveyor. The contract price was m
Costs to date 6
Estimated costs to complete 9
Amounts invoiced 4
Certified complete 40%
What amount should appear in the statement of financial position of Springthorpe as at 31 December 20X2 as contract assets/liabilities in respect of this contract?
A、2 million contract liability C、2 million contract asset