The completed-contract method of revenue recognition recognizes revenue on a long-term project as work progresses so that timely information is provided.

Name: The completed-contract method of revenue recognition recognizes revenue on a long-term project as work progresses so that timely information is provided.
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Question

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The completed-contract method of revenue recognition does not recognize revenue until the project is completed, so it does not provide timely information on revenue as work progresses.

The Completed-Contract Method of Revenue Recognition Recognizes Revenue on a Long-Term