A Construction Contract Was Issued for the Addition of a Local

question 152

Multiple Choice

A construction contract was issued for the addition of a local county jail in the amount of $2,100,000.When the project was almost half finished,the contractor submitted a billing for payment of $1,050,000.Which partial entry below is not required to record this transaction?

• A) Credit Contracts Payable $1,050,000.
• B) Debit Construction Expenditures $1,050,000.
• C) Credit Encumbrances Control $2,100,000.
• D) Credit Encumbrances Control $1,050,000

Analyze the potential negatives of overemphasizing innovation in a corporate setting.

Understand the role of entrepreneurial leadership in recognizing opportunities and enhancing creativity.

Identify and describe the characteristics of creative people and ideas.

Understand the strategies and structures that support managing creative workers effectively.

---

Definitions:

Original Investments

The initial amount of money invested in a project or business by its owners or investors.

Net Income

Net income refers to the total earnings of a company once all costs, expenses, and taxes are deducted from its total revenue.

Salary Allowances

Specific amounts designated for employees that are over and above their standard salary, often for specific purposes like housing, transportation, or special duties.

Full Time

Employment status characterized by working a minimum number of hours defined by the employer, typically 35-40 hours per week.