Algae Builds Large Ships and Uses the Percentage of Completion

question 4

Multiple Choice

Algae builds large ships and uses the percentage of completion method of revenue recognition.The following information pertains to the construction contracts it had in place as of its December 31,2018 year-end.

How much revenue will Algae recognize in 2017?

• A)$260 million
• B)$325 million
• C)$433 million
• D)$1,300 million

Describe the characteristics of psychoactive drugs and their influence on mental processes and behavior.

Understand the concept and definitions of conflict in organizational settings.

Recognize the causes and sources of conflict, including interdependence, scarce resources, and differences in power, status, and culture.

Distinguish between different types of conflict: task, process, and relationship conflict.

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Definitions:

Income

Payments received, on an ongoing basis, as a result of employment or investment yields.

Normal Good

A good for which demand increases as consumer income rises, and decreases as consumer income falls.

Income

The money received by individuals or entities, typically in exchange for providing labor, selling goods, or making investments.

Substitute Goods

Products or services that can replace or be used in place of one another, having the ability to satisfy similar consumer needs or desires.