On November 15, 2016, LaGrow Developers Sold a Parcel of Land

question 16

Multiple Choice

On November 15, 2016, LaGrow Developers sold a parcel of land for $6,000,000. They had originally paid $3,000,000 for the land. The terms of the sale called for a $1,000,000 down payment, and the balance in two equal installments payable on November 15, 2017 and November 15, 2018. Disregard interest charges. LaGrow has a December 31 year-end. Refer to LaGrow Developers. Assuming that LaGrow uses the installment sales method, the company would recognize gross profit in 2016 of ________. (Do not round intermediary calculations, and round your final answer to the nearest whole dollar.)

• A) $0
• B) $500,000
• C) $3,000,000
• D) $1,000,000

Recognize the geographic distribution and employment trends within the federal civil service.

Examine different perspectives and approaches towards bureaucratic reform and their implications on democracy.

Understand the challenges to achieving scientific administration and the influence of elite interests in regulatory agencies.

Compare the attitudes of elite and popular democrats towards bureaucratic expertise and market reforms.

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Definitions:

Southern States

Refers to the states located in the southern region of the United States, historically known for their distinctive cultural, historical, and economic identities.

Formal Education

Structured educational system involving schooling at different levels – primary, secondary, and tertiary, characterized by a systematic curriculum, certified teachers, and official accreditation.

Virtually Free

A term used to describe a status akin to freedom experienced by some individuals who, despite formal constraints, enjoy many of the practical aspects of being free.

Black Poet

A poet of African descent, often exploring themes related to racial identity, heritage, and the African diaspora through their work.