Use the Following Information for Questions 44 and 45

question 21

Multiple Choice

Use the following information for questions 44 and 45.
Dream Home Inc., a real estate developing company, was accounting for its long-term contracts using the completed contract method prior to 2015. In 2015, it changed to the percentage-of-completion method.
The company decided to use the same for income tax purposes. The tax rate enacted is 40%.
Income before taxes under both the methods for the past three years appears below.
-What amount will be debited to Construction in Process account, to record the change at beginning of 2015?

• A) $250,000
• B) $100,000
• C) $150,000
• D) $50,000

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Definitions:

Urine Production

The process by which the kidneys filter the blood, removing waste products and excess substances to form urine.

Angiotensinogen

A glycoprotein produced by the liver that is the precursor to angiotensin, playing a key role in blood pressure regulation.

Angiotensin I

Peptide derived when renin acts on angiotensinogen.

Renin

An enzyme secreted by the kidneys that plays a crucial role in the body's regulation of blood pressure.