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Question 1: You need to track the project costs in balance accounts until the customer is invoiced. Whichtype of project should you use?
A. fixed-price project with completed contract
B. fixed-price project with completed percentage and sales value
C. time and material project with work in process (WIP)
D. internal project with work in process (WIP)
E. time and material projects with accruals
Correct Answer: C
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