mchlmkwsk161 mchlmkwsk161

08-01-2024
Business

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A company used the percentage-of-completion method to account for a 4-year construction contract. Which of the following would be used in the calculation of the income recognized in the second year?

-Income previously recognized -Progress billings to date

a) No Yes
b) No No
c) Yes No
d) Yes Yes

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