Which statement best explains the percentage of completion method? Select one: a. An accounting method that recognizes revenue and expenses on a contract in proportion to the degree of progress. b. An accounting method that recognizes revenue and expenses based on the fair value of the contract. c. An accounting method that recognizes revenue and expenses on a contract only after it is completed. d. An accounting method that recognizes an amount of revenue equal to the costs that are expected to be recovered on th contract. Clear my choice