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Why is construction-in-progress increased by the annual recognized profit on long-term construction contracts? Select one: a. Because the contract price has increased. b. Because the

Why is construction-in-progress increased by the annual recognized profit on long-term construction contracts?

Select one:

a. Because the contract price has increased.

b. Because the project's value is increased above cost.

c. Because the cost of the project is reduced.

d. Because work has been done.

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