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Which of the accounting changes shall be treated

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Reference no: EM132594086

Question 1: Which of the following accounting changes shall be treated retrospectively instead of prospectively by the long-term construction contractor?

Option 1: Change in the estimated costs to complete the contract.

Option 2: Change from percentage of completion to cost recovery method or vice versa.

Option 3: Change in the estimate of the outcome of the contract.

Option 4: Change in construction revenue.

Reference no: EM132594086

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