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  3. Study Set
    Understanding Financial Accounting
  4. Exam
    Exam 4: Revenue Recognition and the Statement of Incom
  5. Question
    Many Service Contracts Require the Seller to Provide Services for Multiple
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Many Service Contracts Require the Seller to Provide Services for Multiple

Question 71

Question 71

True/False

Many service contracts require the seller to provide services for multiple periods. In order to properly recognize revenue, you must use the percentage of completion method.

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