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A company uses the percentage-of-completion method to account for a 4-year construction contract. Which of the following should be used in the calculation of the
A company uses the percentage-of-completion method to account for a 4-year construction contract. Which of the following should be used in the calculation of the income recognized in the first year? Select one: O a. Total Estimated Construction Cost, but not Contract Price O b. Contract Price, but not Total Estimated Construction Cost C. Both Total Estimated Construction Cost and Contract Price O d. Neither Total Estimated Construction Cost nor Contract Price
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