Question: Multiple Choice Question On a long - term construction project, the amount in the construction in progress account represents the costs of construction plus the

Multiple Choice Question

On a long

-

term construction project, the amount in the construction in progress account represents the costs of construction plus the gross profit recognized to

date, and the billings on construction represents

the total revenue recognized to date.

the amounts paid by the customer.

the amounts billed to the customer.

the net realizable value of the contract.

Multiple Choice Question On a long-term construction project, the amount in

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