Pont Bridges Corp

question 85

Multiple Choice

Pont Bridges Corp.had signed a contract to build a new bridge for $5,000,000.Initially their estimated total costs were $4,400,000.During the first year, they realized their costs were going to be greater than originally estimated.They now expect total costs to be $5,500,000, but they cannot change the contract price.If Pont uses the percentage-of-completion method to recognize revenue, how much gross profit (loss) related to the project should they recognize in the first year?

• A)($500,000)
• B)($400,000)
• C)$0
• D)$480,000

Explore the impact of legal definitions of family on social welfare.

Understand the scope and implications of laws and regulations related to consumer protection and fraud.

Recognize the rights and obligations of parties in consumer contracts and credit transactions.

Comprehend the role and authority of federal agencies in enforcing consumer protection laws.

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