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    Exam 3: Additional Topics in Income Determination
  5. Question
    Treating the "Billings on Construction in Progress" Account as an Off-Set
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Treating the "Billings on Construction in Progress" Account as an Off-Set

Question 72

Question 72

True/False

Treating the "billings on construction in progress" account as an off-set (contra)to the construction inventory account avoids including certain costs and profits twice on the balance sheet.

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