The Profit for a Particular Project of Blue Fin Ltd

question 22

Multiple Choice

The profit for a particular project of Blue Fin Ltd, using the percentage of completion method, was $470 000 for year 1 and $690 000 for year 2 (completion) . What difference would there be to profit for year 1 if the completion of production method were used?

• A) Profit would be $470 000 lower.
• B) Profit would be $470 000 higher.
• C) Profit would be $690 000 higher.
• D) There would be no difference.

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Definitions:

Presbycusis

Age-related hearing loss, gradually occurring in individuals as they grow older, affecting the ability to hear higher frequencies.

Arthritis

A term for conditions that involve inflammation of the joints, leading to pain, stiffness, and decreased mobility.

Myopia

A vision condition characterized by difficulty seeing distant objects clearly, often referred to as nearsightedness.

MIDUS

The Midlife in the United States study, a national longitudinal study of health and well-being.