The calculation of the income recognized in the third year

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The calculation of the income recognized in the third year of a five-year construction contract accounted for using the percentage-of-completion method includes the ratio of

Total costs incurred to date to total billings.

Costs incurred in year 3 to total estimated costs.

Costs incurred in year 3 to total billings.

Total costs incurred to date to total estimated costs.

Reference no: EM131284793

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