Question: The percentage - of - completion method does not: a . recognize profit for each period during the life of the contract in proportion to

The percentage-of-completion method does not:
a. recognize profit for each period during the life of the contract in proportion to the portion of the contract completed during the period.
b. value the inventory at the cost incurred plus the profit recognized to date less any partial billings.
c. value the inventory at cost less any partial billings.
d. give precedence to economic substance over legal form.

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