The Percentage of Completion Can Be Measured in a Number

question 43

Multiple Choice

The percentage of completion can be measured in a number of ways,including:

• A) Physical estimates or surveys of the work performed to date.
• B) The work plan basis, which uses the project management plan to calculate the percentage of the construction completed.
• C) The billings basis, using the proportion that progress billings to date bear to the total estimated billings for the contract.
• D) Physical estimates or surveys of the work performed to date and the billings basis, using the proportion that progress billings to date bear to the total estimated billings for the contract.
• E) All of the given answers.

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Definitions:

Section 16(b)

A provision under the Securities Exchange Act of 1934 that seeks to prevent insider trading by requiring profits gained from short-swing transactions by corporate insiders to be returned to the corporation.

Short-Swing Profits

Profits made from the sale of company stock within any six-month period by a statutory insider.

Securities Trading

The buying and selling of securities such as stocks, bonds, and options, typically conducted through exchanges or over-the-counter markets.

National Securities Markets Improvement Act

A 1996 U.S. law aimed at simplifying securities regulation by coordinating federal and state authority.