Lagory CoStarted a Contract in June 2017 to Build a Bridge

question 108

Multiple Choice

Lagory Co.started a contract in June 2017 to build a bridge at a fixed price of $14 million.The bridge was to be completed by October 2019.Total cumulative costs incurred by the end of December 2017 and 2018 were $2 million and $6 million,respectively.Lagory Co.is unable to estimate the total costs of the project prior to completion.Final costs at the end of the project totalled $11 million.How much revenue will Lagory Co.report in 2018?

• A)$2,000,000
• B)$3,000,000
• C)$4,000,000
• D)$14,000,000

---

Definitions:

Religious Freedom

The right to practice one's religion without interference or repression from the government or other individuals.

Church and State

Refers to the relationship and boundaries between organized religion and the nation's government, often emphasizing the principle of separation to ensure religious freedom.

Massachusetts Bay

A region in the northeastern United States, known for the establishment of one of the earliest and most significant English colonies in the 17th century.

Indentured Servants

Individuals who agreed to work for a set period of time, without pay, in exchange for transportation to a new country, lodging, and food.