In 2014,a Major Drug Company Agreed to Give a Not-For-Profit

question 18

Multiple Choice

In 2014,a major drug company agreed to give a not-for-profit private college $1,700,000 to perform testing of a new drug.An advance payment of $700,000 was received in 2014.The college was to receive $4,000 per individual test.In 2014,the college completed 100 tests.How much revenue should the college report for 2014?

• A) $ - 0 - .
• B) $ 400,000.
• C) $ 700,000.
• D) $1,700,000.

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Definitions:

Threaten

To express intention to cause harm or take adverse action against someone in order to induce them to do or abstain from doing something.

Affirmative Action Programs

Policies designed to increase the employment opportunities for minorities and other underrepresented groups by taking positive steps to hire them.

Protected Groups

Categories of people who are legally shielded from discrimination on the basis of characteristics such as race, gender, age, or disability.

Relevant Labor Market

The area from which employers attract employees or the job categories from which employees are hired, considering factors like geography and skillset.