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14. Tinseltown Construction just received a $2 billion contract to construct a modern football stadium in the City of Industry, location in southern California, for
14. Tinseltown Construction just received a $2 billion contract to construct a modern football stadium in the City of Industry, location in southern California, for the new National Football Leave (NFL) team called the Los Angeles Devils for Industry. The company estimates that it will cost $1.5 billion to construct the stadium. Explain how Tinseltown can make revenue recognition decisions each year that enable it to manage earnings over the tree-year duration of the contract.
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