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* **Recognizing Revenue Over Time vs. At a Point in Time:** This depends on how the performance obligation is satisfied. If the customer benefits from the company's performance *as it occurs* and the company doesn't have an alternative use for the asset (and has a right to payment for its performance), revenue is recognized *over time*. If the performance obligation is satisfied at a *specific point in time* (like when a product is delivered), revenue is recognized at that point. Construction projects are often recognized over time, while a retail sale is recognized at a point in time.
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