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GAAP Requires the Completed-Contract Method to Be Used When the

Question 53

Multiple Choice

GAAP requires the completed-contract method to be used when the


A) company expects to perform its contractual obligations
B) buyer can be expected to satisfy its obligations under the contract
C) company can make reasonably dependable estimates of the extent of progress toward project completion
D) contract does not clearly specify the manner and terms of settlement

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