Question: What is the justification for the following deviations from recognizing revenue at the time of sale? (a) Installment sales method of recognizing revenue. (b) Recognition
What is the justification for the following deviations from recognizing revenue at the time of sale?
(a) Installment sales method of recognizing revenue.
(b) Recognition of revenue at completion of production for certain agricultural products.
(c) The percentage-of-completion basis in long-term construction contracts.
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Each deviation depends on either the existence of earlier objective evidence other than the sale or insufficient evidence of sale Objective evidence i... View full answer
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