Use the Following Information for Questions
on March 1

question 74

Multiple Choice

Use the following information for questions
On March 1, 2007, Dennis Company purchased land for an office site by paying $540,000 cash.Dennis began construction on the office building on March 1.The following expenditures were incurred for construction: $$\begin{array} { l r } \text { Date } & \text { Expenditures } \\\hline \text { March } 1,2007 & \$ 360,000 \\\text { April } 1,2007 & 504,000 \\\text { May 1, } 2007 & 900,000 \\\text { June } 1,2007 & 1,440,000\end{array}$$ The office was completed and ready for occupancy on July 1.To help pay for construction, $720,000 was borrowed on March 1, 2007 on a 9%, 3-year note payable.Other than the construction note, the only debt outstanding during 2007 was a $300,000, 12%, 6-year note payable dated January 1, 2007.
-The weighted-average accumulated expenditures on the construction project during 2007 were

• A)$384,000.
• B)$2,934,000.
• C)$312,000.
• D)$696,000.

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Definitions:

Higher Order Needs

Needs that go beyond the basic physiological requirements to include psychological and self-fulfillment needs, often associated with Maslow's hierarchy of needs.

Self-Direction

The ability or process of guiding oneself to accomplish objectives and goals based on personal judgment and motivation.

Conformity

The act of matching attitudes, beliefs, and behaviors to group norms, policies, or societal expectations.

Longitudinal Study

A research method that involves repeated observations of the same variables (e.g., people) over short or long periods of time to detect patterns, changes, and possibly predict future developments.