A revenue recognition method that recognizes revenue before the time of sale is
A)percentage-of-completion
B)installment
C)cost recovery
D)point of sale

Question

Quizplus · Accepted Answer

The percentage-of-completion method recognizes revenue and expenses of long-term projects as a percentage of the work completed during the period. This method allows for revenue recognition before the project is fully completed, which can occur before the time of sale.

A Revenue Recognition Method That Recognizes Revenue Before the Time