Brierton Company Enters a Contract at the Beginning of Year

question 42

Multiple Choice

Brierton Company enters a contract at the beginning of year 1 to build a new federal courthouse for a price of $16 million. Brierton estimates that total cost of the project will be $12 million and will take four years to complete. $\begin{array}{lll}&\text { Costs incurred }&\text { Payments from federal}\\&&\text { government}\\\text { Year 1 } & \$ 4 \text { million } & \$ 2 \text { million } \\\text { Year 2 } & \$ 4 \text { million } & \$ 2 \text { million } \\\text { Year 3 } & \$ 2 \text { million } & \$ 6 \text { million } \\\text { Year 4 } & \$ 2 \text { million } & \$ 6 \text { million }\end{array}$
-If Brierton used percentage-of-completion method to account for this project, what would they have reported as profit in year 2?

• A)$0
• B)$1.33 million
• C)$1.50 million
• D)$0.67 million

Identify the characteristics and significance of metapopulations in conservation biology.

Understand the ecological impact of invasive species like zebra mussels in North America.

Learn the principles and challenges of biological control as a pest management strategy.

Grasp the concepts of r-strategist and K-strategist species and their reproductive strategies.

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Definitions:

Resource Dependency

A theory highlighting how the external resources that organizations need to survive and thrive affect their behavior and strategies.

Price of Resource

The cost associated with acquiring a resource that is necessary for production.

Demand for Automobiles

The consumer's desire and willingness to purchase cars, influenced by factors such as income levels, fuel prices, and technological advancements.

Automobile Workers

Individuals employed in the automotive industry, involved in the design, production, or assembly of automobiles.