Multi-Storey Builders Ltd Had a Large Three-Year Project with Total

question 31

Multiple Choice

Multi-Storey Builders Ltd had a large three-year project with total revenue of $8 000 000 and estimated total costs of $6 500 000.The project was 20 per cent complete at the end of the first year,70 per cent complete at the end of the second year and 100 per cent complete at the end of the third year.Revenues and costs were as estimated.
- How much profit was earned during the second year if the percentage of completion method was used?

• A) $300 000
• B) $750 000
• C) $1 050 000
• D) $0

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Definitions:

Election Campaign

An organized effort which seeks to influence the decision-making process within a specific group by selecting individuals for public office.

Layoffs

The temporary or permanent dismissal of employees from their jobs due to economic downturns, restructuring, or other organizational changes.

Union Certification Process

The procedure through which a union is officially recognized as the bargaining representative for a group of employees, typically involving an election.

Misrepresent

To provide a false or misleading representation of facts, leading to incorrect impressions or conclusions.