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Question 12 2 pts en accounting for a long-term contract, if the balance in Construction...

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Question 12 2 pts en accounting for a long-term contract, if the balance in Construction in Progress exceeds cumulative customer Billings on Construction in Progress: The excess is reported as a current asset in the balance sheet The excess is reported as proft in the income statement The excess is reported as a loss in the income statement e The excess is reported as a current liability in the balance sheet

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