One of the Oldest Known Agricultural Villages, Located in Palestine

question 97

Multiple Choice

One of the oldest known agricultural villages, located in Palestine, was

• A) Canaan.
• B) Ur.
• C) Byblos.
• D) Jerusalem.
• E) Jericho.

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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.