Question: Your answer is incorrect. Under the cost - recovery method revenue, cost, and gross profit are recognized during the production cycle. revenue and cost are

Your answer is incorrect.
Under the cost-recovery method
revenue, cost, and gross profit are recognized during the production cycle.
revenue and cost are recognized during the production cycle, but gross profit recognition is deferred until all costs are
incurred.
revenue, cost, and gross profit are recognized at the time the contract is completed.
none of these answers are correct.
Your answer is incorrect. Under the cost-recovery method revenue, cost, and

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