Assume That Hemsworth Uses the Completed-Contract Method of Accounting

question 18

Multiple Choice

Assume that Hemsworth uses the completed-contract method of accounting. The portion of the total gross profit to be recognized in 2021 is

• A) $ 120,000.
• B) $ 180,000.
• C) $ 310,000.
• D) $ 960,000.

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Definitions:

Creative

Pertaining to the ability to generate new ideas, solutions, or artistic expressions, often characterized by originality and innovation.

Intelligent Human Being

An individual characterized by the ability to learn, understand complex ideas, engage in various forms of reasoning, and adapt to new situations.

Frederick Taylor

An American mechanical engineer who sought to improve industrial efficiency and is considered the father of scientific management.

Systematic Soldiering

The deliberate and coordinated effort of workers to restrict output by limiting the speed at which they perform work. Workers engage in systematic soldiering to prevent piece rates being cut.