The Following Information Relates to Questions

question 9

Multiple Choice

The following information relates to questions
Cooper Construction Company had a contract starting April 2012, to construct a $9,000,000 building that is expected to be completed in September 2014, at an estimated cost of $8,250,000.At the end of 2012, the costs to date were $3,795,000 and the estimated total costs to complete had not changed.The progress billings during 2012 were $1,800,000 and the cash collected during 2012 was 1,200,000.
-At December 31, 2012 Cooper would report Construction in Process in the amount of:

• A)$345,000
• B)$3,795,000
• C)$4,140,000
• D)$3,540,000

---

Definitions:

Medical Care

The maintenance or improvement of health via the diagnosis, treatment, and prevention of disease, illness, injury, and other physical and mental impairments in people.

Aging Population

A demographic trend characterized by an increase in the proportion of elderly individuals within the overall population, often leading to economic and social implications.

Medical Technology

The application of scientific knowledge and advances to improve healthcare practices, diagnostics, and treatment outcomes.

Medicare Program

A federal health insurance program in the United States for people aged 65 and older, as well as for some younger individuals with disabilities.