A Recursion Formula and the Initial Term(s) of a Sequence $$a _ { 1 } = 1 , a _ { n + 1 } = a _ { n } + 6$$

question 113

Multiple Choice

A recursion formula and the initial term(s) of a sequence are given. Write out the first five terms of the sequence.
- $$a _ { 1 } = 1 , a _ { n + 1 } = a _ { n } + 6$$

• A) \(7,13,19,25,31\)
• B) \(1,7,13,19,25\)
• C) \(1,7,13,19,25,31\)
• D) \(1,6,36,216,1296,7776\)

Calculate revenue recognition for contracts permitting multiple service uses based on usage and associated costs.

Distinguish between installment sales contracts and the installment method of revenue recognition.

Understand the specific industry guidance on revenue recognition under GAAP and IFRS.

Analyze when to use completed-contract vs. percentage-of-completion methods for accounting in long-term construction projects.

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