In order to use the percentage of completion method, it is necessary to have continuing involvement or control over the goods/services.
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Q3: Accounting standards identify two revenue recognition criteria
Q4: If it is probable that economic benefits
Q4: There must be a receipt of cash
Q5: The incentive built in for prompt payment
Q6: Part of the revenue recognition criteria includes
Q7: A company may choose numerous methods of
Q8: At the time of sale,the selling price
Q9: A sales discount of 2/10 means the
Q10: Revenue should be measured at the cost
Q18: The amount of revenue is one of
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