Question: Cost estimates on a long-term contract may indicate that a loss will result on completion of the entire contract. In this case, the entire expected

Cost estimates on a long-term contract may indicate that a loss will result on completion of the entire contract. In this case, the entire expected loss should be

a. recognized in the current period, regardless of whether the percentage-of-completion or completed-contract method is employed.

*I know this is the answer but I need an explanation, thanks

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