Mei-Ling, Norberto, and Oki Apply to Work for Poultry Processing

question 36

Multiple Choice

Mei-Ling, Norberto, and Oki apply to work for Poultry Processing, Inc. Poultry Processing must verify the identity of

• A) ​each new hire.
• B) ​only those hired as contractors.
• C) ​only those hired as day workers.
• D) ​none of the choices.

---

Definitions:

Long-Term Construction

A method in accounting that recognizes the revenues and expenses of long-term construction projects as progress is made on the project.

Completed Contract

A method in accounting where all revenue and expenses of a contract are recognized only when the contract is completed.

Percentage Of Completion

An accounting method that recognizes revenues and expenses of long-term projects as a percentage of the work completed during the period.

Inventory

Goods or materials that a business holds for the ultimate goal of resale, including raw materials, work-in-progress, and finished goods.