Hiser Builders, Inc

question 78

Multiple Choice

Hiser Builders, Inc.is using the cost-recovery method for a $5,600,000 contract that will take two years to complete.Data at December 31, 2012, the end of the first year, are as follows:
The gross profit or loss that should be recognized for 2012 is

• A)$0.
• B)a $240,000 loss.
• C)a $120,000 loss.
• D)a $105,600 loss.

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Definitions:

π MO

Pi molecular orbitals are formed by the overlap of p orbitals that are oriented parallel to each other, playing a key role in the bonding of molecules with conjugated systems.

1,3-Butadiene

A basic conjugated diene having the chemical structure C4H6, utilized as a monomer for synthesizing synthetic rubber.

Stepwise Mechanism

A reaction mechanism in chemistry that occurs through multiple discrete steps, each with its own transition state and intermediates.

Reaction

A sequence where substances engage and yield new entities with unique properties.