Indiana Co

question 3

Multiple Choice

Indiana Co. began a construction project in 2018 with a contract price of $150 million to be received when the project is completed in 2020. During 2018, Indiana incurred $36 million of costs and estimates an additional $84 million of costs to complete the project. Indiana recognizes revenue over time and for this project recognizes revenue over time according to the percentage of the project that has been completed.
-Suppose that, in 2019, Indiana incurred additional costs of $63.75 million and estimated an additional $42.75 million in costs to complete the project. Indiana:

• A) Recognized $3.75 million loss on the project in 2019.
• B) Recognized $5.25 million gross profit on the project in 2019.
• C) Recognized $7.5 million gross profit on the project in 2019.
• D) Recognized $1.5 million loss on the project in 2019.

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Definitions:

Mitosis

A form of cell division in which two new daughter cells are produced, each carrying an identical number and type of chromosomes as found in the original parent nucleus, commonly seen in normal tissue expansion.

Cell-Cycle Checkpoints

See cell-cycle control system.

Fertilization

The process of combining male and female gametes to form a zygote, initiating the development of a new individual.

Meiosis

A type of cell division that reduces the chromosome number by half, resulting in the production of gametes or spores in sexually reproducing organisms.