In Year 1 a Contractor Agrees to Build a Building

question 108

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 $1,100,000.Under the percentage of completion method year 2's gross profit is

• A)$150,000.
• B)$500,000.
• C)$700,000.
• D)$350,000.

---

Definitions:

Americans

Residents or citizens of the United States of America, representing a diverse population with a myriad of cultural, ethnic, and social backgrounds.

Abortion Acceptable

The view or belief that terminating a pregnancy under certain circumstances is morally or ethically permissible.

Conservative Protestants

Members of Protestant denominations known for their emphasis on traditional religious beliefs, moral values, and often literal interpretations of the Bible.

Witchcraft

A set of beliefs and practices often associated with magical skills and abilities, used in some cultures to explain or influence events.