Which of the following statements regarding the completed contract method is NOT true?

a) The company makes different entries to recognize revenue than under percentage-of-completion method.

b) The company makes the same entries to recognize revenue than under percentage-of-completion method.

c) Losses on unprofitable contract are immediately recorded.

d) The company makes the same annual entries to record costs of construction, progress billings, and collections from customers as those under the percentage-of-completion method.