On 1 January 2015, Romulus Ltd Signed a Contract Worth

question 19

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 completed contract method, how much profit would Romulus Ltd report in 2017?

• A) $0
• B) $800 000
• C) $5 000 000
• D) $6 000 000

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Definitions:

Signal Of Quality Hypothesis

A theory suggesting that certain traits or behaviors serve as signals to potential mates that an individual possesses high genetic quality.

Hereditary

Relating to the transmission of traits, characteristics, or diseases from parents to offspring through the genes.

Provisioning Efficiency

The effectiveness with which parents, especially in avian species, supply their offspring with food, impacting the growth and survival rates of the young.

Sex Ratio

The proportion of males to females in a population.