QUESTION 3 1 points Match the term/phrase with the appropriate phrase. Construction in progress A asset account equivalent to the asset work- Accounting for costs, billings and cash receipts... inprogress inventory in a manufacturing company B. contra account to the asset construction in progress recognizing that a customer has been billed for work performed; subtracted from construction in progress to determine balance sheet presentation. Billings on Construction Contracts The same total amount of revenue is recognized on a contract whether it's over the term of the contract or upon completion... does not depend on the timing of revenue recognition If a contract doesn't qualify for revenue recognition over time... D. but the timing of the revenue recognition differs. E. revenue is recognized when the project is completed. Save All Answers Sa Click Save and Submit to save and submit. Click Save All Answers to save all answers