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

question 13

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 completed contract method,how much profit would Romulus Ltd report in 2017?

• A) $0
• B) $800 000
• C) $5 000 000
• D) $6 000 000

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Definitions:

Pregnancy

A condition in female mammals, including humans, involving the development of one or more offspring, known as an embryo or fetus, inside the uterus.

Moral Reasoning

The process through which individuals make decisions about what is right and wrong, often influenced by their moral beliefs, values, and principles.

Preconventional Morality

Refers to the first level of Kohlberg's stages of moral development, where individuals base their moral decisions on the direct consequences of their actions to themselves.

Conventional Morality

refers to a stage in Lawrence Kohlberg's theory of moral development, where moral reasoning is based on social rules and conventions.