Estimated losses on long-term contracts are recognized ratably over the contract term regardless of the revenue recognition method used.

Name: Estimated losses on long-term contracts are recognized ratably over the contract term regardless of the revenue recognition method used.
Brand: Quizplus
Rating: 4.9 (51 reviews)

Question

Quizplus · Accepted Answer

Estimated losses on long-term contracts are recognized immediately in the period they are identified, not ratably over the contract term, regardless of the revenue recognition method used.

Estimated Losses on Long-Term Contracts Are Recognized Ratably Over the Contract