When accounting for a long-term contract, if the balance in Construction in Progress exceeds cumulative customer Billings on Construction in Progress: The excess is reported as a current asset in the balance sheet The excess is reported as profit in the income statement The excess is reported as a loss in the income statement The excess is reported as a current liability in the balance sheet Which of the following is an example of a good transferred over time: Dryer Cheeseburger Health club membership Sneakers