Under the completed-contract method, revenues are only reported in the last year of the contract.

Name: Under the completed-contract method, revenues are only reported in the last year of the contract.
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Under the completed-contract method, revenues are only recognized when the contract is complete and all performance obligations have been fulfilled. This means that revenues may be recognized in multiple years of the contract, not just the last year.

Under the Completed-Contract Method, Revenues Are Only Reported in the Last