The answer does not have to be very long. A few paragraphs, maybe a half page. Discussion question number 1: Percentage-of-Completion vs. Completed-Contract Method What is the difference between the two methods? What are the circumstances that determine which method should be implemented? Why should the percentage-of-completion method be used over the completed-contract method whenever possible? Does either method lend itself to income manipulation? Why or why not?
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