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29 January, 08:51

Sellers should recognize revenue over time for a long term contract in which the seller is receiving periodic payments for progress to date but may need to refund those payments in the event the contract is cancelled. T/F

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  1. 29 January, 09:10
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    Answer: F. False

    Explanation: This is because the customer consumes the benefit of the seller's work as it is performed.
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