Under the Percentage of Completion Method,the Amount of Work Completed

question 18

Multiple Choice

Under the percentage of completion method,the amount of work completed in a particular year is typically determined by comparing which of the following?

• A)the costs incurred that year divided by the estimated total costs of the project.
• B)the cost incurred that year divided by the contract price.
• C)the total costs incurred to date divided by the contract price.
• D)the total costs incurred to date divided by the cash collected to date from the customer.

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