Use the Following Information for Questions

question 28

Multiple Choice

Use the following information for questions:
A corporation sold a tract of land for $525,000 that had originally cost $350,000.The buyer will make three annual payments of: $250,000; $125,000; and $150,000.Ignore interest and use the instalment method.
-The unrecognized profit at the end of year two amounts to:

• A)$0
• B)$50,000
• C)$91,667
• D)$175,000

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Definitions:

Monozygotic Twins

Monozygotic twins are genetically identical siblings born from a single fertilized egg that splits into two, sharing 100% of their DNA.

Zygote

The initial cell formed when a new organism is conceived, resulting from the union of an egg and a sperm cell.

Piaget's Stages

Piaget's Stages of cognitive development propose a series of four stages in which children's intellectual abilities evolve from infancy through adolescence.

Cognitive Development

The process of growth and change in intellectual capabilities such as thinking, problem-solving, and decision-making.