Question: For an unprofitable contract, the entire expected loss is recognized in the current period when answers a method other than the percentage-of-completion method nor the

For an unprofitable contract, the entire expected loss is recognized in the current period when

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a method other than the percentage-of-completion method nor the completed contract method is used.

using either the percentage-of-completion method or the completed contract method.

the completed contract method but not the percentage-of-completion method is used.

using the percentage-of-completion method but not the completed contract method.

Dan collects a nonrefundable up-front fee of $192 when a new customer signs up for a 24-month contract for services. A monthly fee of $32 is also assessed for each customer. How much revenue does Dan record on the date the contract is signed?

$192

$40

$224

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