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Methods of revenue recognition for construction contracts

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Reference no: EM133147248

Question 1.

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

Question 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?

Reference no: EM133147248

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