13. The cost-recovery method of recognizing profit for accounting purposes is permitted if a. collections...
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Accounting
13. The cost-recovery method of recognizing profit for accounting purposes is permitted if a. collections in the year of sale do not exceed 30% of the total sales price. b. an unrealized profit account is credited. c. there is no reasonable basis for estimating collectibility. d. the method is consistently used for all sales of similar merchandise.
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