Use the Information Below to Answer the Following Questions

question 33

Multiple Choice

Use the information below to answer the following questions:
The profit for a particular project of Blue Fin Ltd, using the percentage of completion method, was $470 000 for year 1 and $690 000 for year 2 (completion) .
-What difference would there be to profit for year 2 if the completion of production method were used?

• A) Profit would be $1 160 000 higher.
• B) Profit would be $690 000 higher.
• C) Profit would be $470 000 lower.
• D) Profit would be $470 000 higher.

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