On 1 January 2014,Peter Ltd Signed a Contract Worth $64

question 29

Multiple Choice

On 1 January 2014,Peter Ltd signed a contract worth $64 000 000 to construct the Cycling Stadium.The stadium was to be built over three years,with progress payments as follows: Estimated costs were $50 000 000.The project was 35 per cent complete at the end of 2014,75 per cent complete at the end of 2015 and 100 per cent complete at the end of 2016.Revenues and costs were as estimated.
-How much profit was earned during 2014 if the percentage of completion method was used?

• A) $3 281 250
• B) $4 200 000
• C) $4 900 000
• D) $5 600 000

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Definitions:

Judgment Sample

A sampling technique where the samples are chosen based on the judgment of the researcher, rather than random selection.

Editorial Page

A section in newspapers and other periodicals featuring articles expressing opinions, viewpoints, and advocacy.

Unordered Sample

A collection of outcomes where the order of occurrence is irrelevant or not considered.

Replacement

The process of substituting one element for another in a particular context, such as replacing a part in machinery or modifying a dataset.