Which statement about the cost recovery method is correct?
A)The method recognizes contract revenues on a cash basis.
B)The method recognizes revenue and expenses in proportion to the degree of progress.
C)This method recognizes defers any profit until the contract is completed.
D)This method is the preferred method for recognizing revenue.

Question

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The Answer of Which statement about the cost recovery method is correct?
A)The method recognizes contract revenues on a cash basis.
B)The method recognizes revenue and expenses in proportion to the degree of progress.
C)This method recognizes defers any profit until the contract is completed.
D)This method is the preferred method for recognizing revenue.

Which Statement About the Cost Recovery Method Is Correct