Which One of the Following Entries Would You Probably Not $\quad \mathrm { XX }$

question 42

Multiple Choice

Which one of the following entries would you probably not see if an entity used the percentage-of-completion method?

• A)
• Partial Billings \(\quad \mathrm { XX }\)
• Construction Revenue \(\quad \mathrm { XX }\)
• B)
• \(\begin{array} { c c }
• \text { Construction Expense } & \text { XX } \\
• \text { Construction in Progress } & \mathrm { XX } \\
• \text { Construction Revenue } & \mathrm { XX }
• \end{array}\)
• C)
• \(\begin{array} { c c }
• \text { Accounts Receivable } & \text { XX } \\
• \text { Partial Billings } & \text { XX }
• \end{array}\)
• D)Partial Billings \(\quad \mathrm { XX }\)
• Construction in Progress \(\mathrm { XX }\)

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Definitions:

Manufacturing Companies

Businesses involved in the production of goods in large quantities, typically using machinery and involving the assembly of components or the processing of raw materials.

AFL-CIO Split

The division within the American Federation of Labor and Congress of Industrial Organizations, a major trade union center in the United States, often referring to historical rifts or disputes leading to the creation of separate labor federations.

Craft

Refers to occupations or trades that require specialized skills, usually manual, learned through training or apprenticeship.

Industrial Lines

Division or categorization of the economy into segments based on the nature of the activities, such as manufacturing, services, and agriculture.