In Year 1 a Contractor Agrees to Build a Building

question 41

Multiple Choice

In year 1 a contractor agrees to build a building for $2,500,000 by the end of year 2.The builder's cost is estimated to be $1,800,000.The actual costs year 1 are $900,000 and year 2's actual costs are $1,300,000.Under the completed contract method,the gross profit for year 1 is

• A)$0.
• B)$300,000.
• C)$350,000.
• D)$700,000.

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Definitions:

Bladder

An organ that stores urine produced by the kidneys before it is excreted from the body.

Filtration

A process that separates solids from liquids or gases using a filter medium that allows only the fluid to pass through.

Nephron

The primary unit within the kidney that serves to filter blood and create urine, functioning as both a structural and operational entity.

Trigone

The triangular area located in the urinary bladder base, pivotal in bladder functionality and voiding.