Question: First: The Construction in Process account includes only construction costs under the percentage - of - completion method. Second: In a multiple - deliverable arrangement,

First:

The Construction in Process account includes only construction costs under the percentage

-

-

completion method.

Second:

In a multiple

-

deliverable arrangement, once the separate units of accounting are determined, the amount paid for the arrangement is allocated among the separate units based on relative fair value.

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