To recognize revenue during the production phase,a specific customer must be identified,an exchange price agreed upon,remaining costs to complete are reliably estimated,a significant portion of the services contracted are performed,and

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To recognize revenue during the production phase, a reasonable estimate of cash collection must be determined as it ensures that the transaction is economically feasible and that the seller can collect the cash. The other options are not relevant criteria for revenue recognition during the production phase.

To Recognize Revenue During the Production Phase,a Specific Customer Must