Use the Following Information for Questions

question 15

Multiple Choice

Use the following information for questions.

-Which of the following should be shown on the statement of financial position at December 31, 2017 related to Contract 2?

• A)inventory, $272,000
• B)inventory, $328,000
• C)liability, $272,000
• D)liability, $600,000

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Definitions:

Fixator

A muscle that stabilizes the origin of another muscle to enable effective movement.

Origin

The point or place where something begins or is derived, or in anatomy, the fixed attachment point of a muscle.

Quadratus Lumborum

A muscle in the lower back that helps to stabilize the lumbar spine and aids in lateral flexion of the torso.

Square-Shaped

Characteristic of having four equal sides and four right angles.