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March 6, 2022

What are the two methods of revenue recognition for construction contracts? What are the conditions to use one method instead

Business & Finance /Accounting

1) what are the two methods of revenue recognition for construction contracts? What are the conditions to use one method instead of the other?

2) in the five step model of revenue recognition, there are some issues in practice. One such issue is the Sale with Right of Return. Discuss how do you recognize revenue when the customer has the right to return?

Write answers for those two questions.

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