True False 1 Being able to accurately determine a long term contracts period costs, is not a requirement for a long term contract to qualify for revenue recognition over time 2 A decrease in the receivables turnover ratio (net sales receivables) indicates a decrease in the time between credit sales and cash collection

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Question: True/False 1. Being able to accurately determine a long-term contracts period costs, is not a requirement for a long-term contract to qualify for revenue recognition

True/False

1. Being able to accurately determine a long-term contracts period costs, is not a requirement for a long-term contract to qualify for revenue recognition over time.

A decrease in the receivables turnover ratio (net sales / receivables) indicates a decrease in the time between credit sales and cash collection.

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