Companies may use the completed-contract method only if the contract ________.
A) is for less than two years
B) exceeds five years
C) does not meet criteria for percentage-of-completion method
D) does not meet criteria for installment sales method

Question

Quizplus · Accepted Answer

The completed-contract method is used when the criteria for the percentage-of-completion method are not met, typically due to the inability to reasonably estimate the progress towards completion.

Companies May Use the Completed-Contract Method Only If the Contract