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When Losses Occur on Long-Term Contracts Using the Percentage-Of-Completion Method,they

Question 105

Multiple Choice

When losses occur on long-term contracts using the percentage-of-completion method,they are recognized


A) in their entirety as soon as it becomes known that a loss will be suffered.
B) at the completion of the project.
C) proportionately over the contract period using costs incurred as a base.
D) evenly over the contract perioD.

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