What Information Is Necessary to Use the Percentage-Of-Completion Method

question 53

Multiple Choice

What information is necessary to use the percentage-of-completion method?

• A)Only an estimate of the total costs.
• B)An estimate of the total costs and the actual costs to date.
• C)The actual costs to date and an estimate of the total revenues.
• D)The actual costs to date and an estimate of the total costs and total revenues.

---

Definitions:

Sensorineural

Pertaining to or involving both sensory and neural mechanisms, often used in reference to hearing loss caused by damage to the inner ear or auditory nerve.

Acoustic

Pertains to sound, or the science of sound, including its production, transmission, and effects.

Gestalt Principle

A theory in psychology that proposes the human brain sees objects in their entirety before perceiving their individual parts, emphasizing the whole of anything is greater than its parts.

Closure

A psychological term referring to the desire or need for a clear, comprehensive, and emotionally satisfying resolution or conclusion.