Table 17-1
in 2016, a Developer Sells Land For $\$ 800,000$

question 32

Multiple Choice

Table 17-1
In 2016, a developer sells land for $\$ 800,000$ . The cost of the land was $\$ 500,000$ . He receives a $\$ 200000$ down payment plus three instalments of $\$ 300,000$ , $\$ 200000$ and $\$ 100,000$ which will be paid in 2017, 2018 and 2019 . He uses the instalment method to record revenue. It is decided that $10 \%$ is the appropriate rate of interest.
-Refer to Table 17-1.What is the developer's gross profit?

• A)$500 000
• B)$300 000
• C)$200 000
• D)$800 000

Recognize the environmental impact and hazards associated with weathering and erosion.

Understand the contribution of weathering processes to the salinity of oceans.

Understand the fundamental concepts of strategic control and performance measurement.

Comprehend the basic definition of quality and the different perspectives and dimensions related to it.

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Definitions:

Dominant Strategy

In a strategic interaction (game) between two or more players, a course of action (strategy) that a player will wish to undertake no matter what the other players choose to do.

Nash Equilibrium

A concept within game theory where no player can benefit by changing strategies while the other players keep theirs unchanged.

First-Mover Advantages

Competitive benefits that accrue to the initial entrant into a market, including brand recognition and product loyalty before competitors enter.

Zero-sum Game

A situation in which one party's gain is exactly balanced by another party's loss, so the net change in wealth or benefit is zero.