terralynn5173 terralynn5173

25-02-2020
Business

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Sellers should recognize revenue over time for a long term contract in which the seller is receiving periodic payments for progress to date but may need to refund those payments in the event the contract is cancelled. T/F

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Vickiee Vickiee

25-02-2020

Answer: F. False

Explanation: This is because the customer consumes the benefit of the seller's work as it is performed.

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