Question: In accounting for long-term construction-type contracts, the difference between Billings and Accounts Receivable is: Select one: O a. Recognized on the balance sheet as

In accounting for long-term construction-type contracts, the difference between Billings and Accounts Receivable is: Select one: O a. Recognized on the balance sheet as a net asset or liability Ob. Subtracted from Gross Profit Recognized O c. Added to Gross Profit Recognized Od. Not disclosed as a net amount in the financial statements

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