On 1 January 2015,Romulus Ltd Signed a Contract Worth $21

question 15

Multiple Choice

On 1 January 2015,Romulus Ltd signed a contract worth $21 000 000 to construct a light rail from A to B.The light rail was to be built over three years,with progress payments of $7 000 000 to be made at the end of each year.Estimated costs were $15 000 000 and the following costs incurred and paid by Romulus Ltd were in accordance with estimates and represented the percentage completed in each year: The project was completed in December 2017.
-Using the percentage of completion method,what profit would Romulus Ltd report in 2016?

• A) $2 000 000
• B) $3,200 000
• C) $6 000 000
• D) $7 000 000

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Definitions:

Neurotransmitter

Chemical messengers that transmit signals across synapses between neurons in the brain.

Acetylcholine

A neurotransmitter in both the central and peripheral nervous systems that plays an important role in muscle contraction and the regulation of activities in the brain.

Triggers Muscle Contractions

Stimuli that induce shortening and activation of muscle fibers, leading to movement or tension.

Neurotransmitter

Chemicals in the brain that transmit signals from one nerve cell to another, influencing various bodily functions and emotions.