Which of the Following Is Not a Difference Between the Percentage-Of-

question 2

Multiple Choice

Which of the following is not a difference between the percentage-of- completion and completed contract methods of accounting for long-term construction contracts?

• A) One requires estimates of completion during the construction period and the other does not.
• B) One records income (loss) each period during the construction period and the other does not.
• C) They report different inventory amounts during the construction period.
• D) They cause different cash inflows during the construction period.

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