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

Name: Estimated losses on long-term contracts are recognized as ratable over the contract term regardless of the revenue recognition method used.
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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 as Ratable Over