In Year 1 a Contractor Agrees to Build a Building

question 75

Multiple Choice

In year 1 a contractor agrees to build a building for $2,500,000 by the end of year 2.The builder's cost is estimated to be $1,800,000.The actual costs year 1 are $900,000 and year 2's actual costs are $1,300,000.Under the completed contract method the gross profit for year 2 is

• A)$0.
• B)$300,000.
• C)$350,000.
• D)$700,000.

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Definitions:

Arbitrary Dismissal

The termination of an employee's contract without just reason or through a process lacking fairness and due process.

Broad Protections

Wide-ranging safeguards that are implemented to ensure the safety, rights, and interests of individuals or groups.

Fair Treatment

The equitable and impartial handling of all individuals in various contexts, ensuring equal opportunity and avoidance of discrimination.

Work Rules

Regulations or guidelines established within a workplace that dictate the conduct, duties, and responsibilities of employees.