On 1 January 2015, Romulus Ltd Signed a Contract Worth

question 37

Multiple Choice

On 1 January 2015, Romulus Ltd signed a contract worth $21 000 000 to construct a light rail from A to B. The light rail was to be built over three years, with progress payments of $7 000 000 to be made at the end of each year. Estimated costs were $15 000 000 and the following costs incurred and paid by Romulus Ltd were in accordance with estimates and represented the percentage completed in each year:

The project was completed in December 2017. Using the percentage of completion method, what profit would Romulus Ltd report in 2016?

• A) $2 000 000
• B) $3,200 000
• C) $6 000 000
• D) $7 000 000

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Definitions:

Excitement Stage

A phase in the human sexual response cycle characterized by an increase in heart rate, muscle tension, and blood flow to the genitals, often marked by feelings of sexual arousal.

Androgen

A type of hormone that plays a key role in the development of male traits and reproductive activity.

Testosterone

A steroid hormone primarily produced in males by the testes and, in small amounts, in females by the ovaries, playing key roles in health and sexual development.

Immigration

The action of coming to live permanently in a foreign country, often resulting in demographic, economic, and cultural changes within the host society.