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Provide clear, concise answers for the following:
1. Explain the conceptual difference between the earnings approach and the contract-based approach to accounting for revenues.
2. How is revenue recognized under the earnings approach?
3. How is revenue recognized under the contract-based approach?
4. How are sales accounted for in the presence of collection and measurement uncertainty?
5. What are the two main methods to account for long-term construction projects allowed under ASPE?
6. Why is it important to understand the business perspective of selling transactions?
7. Explain the term onerous contracts and its implications.

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Provide clear, concise answers for the following:
1. Explain the conceptual difference between the earnings approach and the contract-based approach to accounting for revenues.
2. How is revenue recognized under the earnings approach?
3. How is revenue recognized under the contract-based approach?
4. How are sales accounted for in the presence of collection and measurement uncertainty?
5. What are the two main methods to account for long-term construction projects allowed under ASPE?
6. Why is it important to understand the business perspective of selling transactions?
7. Explain the term onerous contracts and its implications.

Definitions Provide Clear, Concise Answers for the Following