Assuming BCC Uses the Percentage-Of-Completion Method of Revenue Recognition, the Gross

question 73

Multiple Choice

Assuming BCC uses the percentage-of-completion method of revenue recognition, the gross profit recognized in 2008 would be (rounded to the nearest thousand) :

• A)$33,000.
• B)$36,000.
• C)$69,000.
• D)$30,000.$180,000/($180,000 + 200,000) = 47.37% complete 47.37% ($450,000 180,000 200,000) = $33,159 or $33,000 rounded.

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Extranet

A private network that uses Internet protocols and the public telecommunication system to securely share part of a business's information or operations with suppliers, vendors, partners, customers, or other businesses.

Virtual Network

Common type of technology infrastructure, which consists of links that are not wired connections.

Costly Hardware

Expensive physical components of a computer system or other electronic devices.

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The software that manages the hardware and software resources of a computer or mobile device, enabling it to perform basic functions and run applications.