Question: When revenue is recognized over time in a long - term contract, a loss may have to be recognized in at least one period Multiple

When revenue is recognized over time in a long-term contract, a loss may have to be recognized in at least one period
Multiple choice question.
only if the project as a whole is expected to be unprofitable.
even if the project as a whole is expected to be profitable.
requiring a restatement if prior profits were recorded.

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