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In 2017,Modern Construction Company entered into a contract to construct a building for $5,000,000.The estimated cost to complete the building is $4,000,000 and the project will be completed in 2018.Modern incurred actual construction costs of $1,600,000 and $1,800,000 in 2017 and 2018,respectively.How much gross profit is recognized using the percentage-of-completion method in 2017 and 2018?
Competitive Intelligence
The gathering and analysis of information about competitors, their activities, and industry trends to support strategic decision-making.
Canadian Standards Association
It is a standards organization which develops standards in 57 areas and provides certification and testing services to ensure the compliance of products to declared standards.
Safety Policies
Official documents outlining the procedures and guidelines to ensure the physical and psychological well-being of employees in the workplace.
Scenario Planning
A strategic planning method that organizations use to envision and prepare for various future conditions or events.
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