The Talmage Company owns several shopping malls. One of the shopping malls is undergoing an underground renovation. Copeland Construction is the construction company that is performing these renovations. According to GAAP, when is the most appropriate time to recognize revenue from this construction project?
A) When the contract to perform the service was signed
B) When the construction work was started
C) At the end of each year, as a percentage completed for that year
D) After the project is completely finished
Correct Answer:
Verified
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