Use the Following Information for Questions 83 and 84

question 136

Multiple Choice

Use the following information for questions 83 and 84.
Eilert Construction Company had a contract starting April 2015, to construct a $21,000,000 building that is expected to be completed in September 2016, at an estimated cost of $19,250,000. At the end of 2015, the costs to date were $8,855,000 and the estimated total costs to complete had not changed. The progress billings during 2015 were $4,200,000 and the cash collected during 2015 was $2,800,000. Eilert uses the percentage-of-completion method.
-For the year ended December 31, 2015, Eilert would recognize gross profit on the building of

• A) $0.
• B) $737,917.
• C) $805,000.
• D) $945,000.

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Self-Reliant

Capable of relying on oneself or one's own capabilities, resources, or judgments.

Social Change

The transformation over time of cultural values, norms, laws, the social structure, and the nature of social institutions.

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Discrimination or prejudice against individuals based on their age, embedded within societal structures and institutions.

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The significance or interpretation of practices, symbols, or phenomena within their social and cultural context.