In 20x2,a firm changed from the completed contract (CC) method of accounting for revenue on long-term contracts to the percentage of completion (PC) method.The firm's 20x1 and 20x2 comparative financial statements will reflect which method or methods. 
Definitions:
Highest Possible Price
The maximum price that a product or service can achieve in a market under current conditions.
Lowest Possible Price
the minimum price at which a good or service is offered, considering all factors including cost, demand, and competition.
Income Elasticity
A measure of how much the demand for a good or service changes in response to a change in income.
Entire Incomes
The total earnings received by an individual or household from various sources, including wages, salaries, and investments.
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