Use the Following Information for Questions 86 Through 88

question 47

Multiple Choice

Use the following information for questions 86 through 88.
Gorman Construction Co. began operations in 2015. Construction activity for 2015 is shown below. Gorman uses the completed-contract method.
-Which of the following should be shown on the balance sheet at December 31, 2015 related to Contract 3?

• A) Inventory, $200,000
• B) Inventory, $350,000
• C) Inventory, $2,100,000
• D) Inventory, $2,250,000

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Definitions:

Binary Fission

A form of asexual reproduction where a parent organism divides into two approximately equal parts, each becoming a new organism.

Reproduction

The biological process by which new individual organisms are produced, either sexually or asexually, ensuring the continuation of a species.

F Factor

A DNA element containing genes for replication and transfer, found in some bacteria and capable of initiating bacterial conjugation, a form of genetic transfer.

Sex Pili

Hair-like structures on the surface of bacterial cells that are involved in the process of bacterial conjugation, facilitating the transfer of genetic material between cells.