For each of the following situations, identify the revenue or expense recognition method that you feel is most appropriate. The recognition methods are: ■ At point of sale ■ At time of delivery (if different from point of sale) ■ When cash is received (if different from point of sale) ■ At expiration of guarantee or warranty period ■ When contract is signed ■ Over time ■ When service/contract is complete ■ According to degree of completion ■ According to units of production
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