Use the Following Information for Questions

question 2

Multiple Choice

Use the following information for questions.
Eilert Construction Company had a contract starting April 2011, to construct a $15,000,000 building that is expected to be completed in September 2012, at an estimated cost of $13,750,000.At the end of 2011, the costs to date were $6,325,000 and the estimated total costs to complete had not changed.The progress billings during 2011 were $3,000,000 and the cash collected during 2011 was $2,000,000.Eilert uses the percentage-of-completion method.
-At December 31, 2011, Eilert would report Construction in Process in the amount of

• A)$6,900,000.
• B)$6,325,000.
• C)$5,900,000.
• D)$575,000.

Define leadership, including its key elements and processes.

Recognize the concept of non-leadership and its characteristics.

Explain the influence of social identity theory on leadership emergence.

Identify different types of power within the leadership context and how they are exercised.

---

Definitions:

Written Off

The act of removing an asset or debt from the financial statements because it is considered uncollectible or worthless.

End of the Year

The conclusion of a fiscal or calendar year, marking a period for financial reporting, assessment, and strategy formulation for businesses.

Maturity

The date on which the principal amount of a loan, bond, or other financial instrument must be repaid to creditors.

Maker

In the context of finance, refers to the entity that issues or creates a financial instrument, such as a check or note.