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During 2010, Moss Corp

question 36

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During 2010, Moss Corp.started a construction job with a total contract price of $1.4 million. The job was completed on December 15, 2011.Additional data are as follows: During 2010, Moss Corp.started a construction job with a total contract price of $1.4 million. The job was completed on December 15, 2011.Additional data are as follows:   Under the completed-contract method, what amount should Moss recognize as gross profit for 2011? A) $90,000. B) $125,000. C) $190,000. D) $250,000. Under the completed-contract method, what amount should Moss recognize as gross profit for 2011?


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