In Year 1,a Contractor Agrees to Build a Building for $2,500,000

question 28

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 for Year 1 are $900,000 and Year 2's actual costs are $1,100,000.Under the percentage of completion method Year 1's gross profit is

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

---

Definitions:

Biological Cycles

Natural, rhythmic processes in living organisms that can affect physical and mental states, such as circadian rhythms.

Electroencephalograph

A medical instrument used to measure the electrical activity of the brain, often used in diagnosing neurological conditions.

Electrical Activity

The movement of charged particles, such as ions, which is a fundamental process in neurons and muscle cells, and is measured in various medical and scientific applications.

Recording Electrodes

Devices used to detect and measure electrical activity in various parts of the body, such as the brain, heart, or muscles.