Exhibit 17-1 The Following Information Relates to a Project of the Cumberland

question 67

Multiple Choice

Exhibit 17-1
The following information relates to a project of the Cumberland Construction Company: The contract price was $1,200,000. Cumberland uses the cost-to-cost method of revenue recognition.
-Refer to Exhibit 17-1. What amount of revenue would be recognized in 2016?

• A) $400,000
• B) $192,000
• C) $136,000
• D) $0

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Definitions:

Morale

The overall sense of well-being, satisfaction, and enthusiasm among members of a group, team, or workforce, often seen as a critical factor in productivity.

Globalization

The process of interaction and integration among people, companies, and governments worldwide, often driven by international trade and investment and aided by informational technology.

Diversity Initiatives

Programs and policies designed to promote and support inclusivity and diversity within workplaces or communities.

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Short for the Canadian Charter of Rights and Freedoms, a bill of rights entrenched in the Constitution of Canada.