Given the Following Data, What Is the Balance in Construction-In-Process

question 66

Multiple Choice

Given the following data, what is the balance in construction-in-process at the end of 2006 under the percentage of completion method for a project begun in 2006 with a contract price of $1,100? $\begin{array}{|l|l|l|}\hline & 2006 & 2007 \\\hline \text { Costs incurred this year } & \$ 100 & \$ 200 \\\hline \text { Total estimated costs remaining at end of year } & 700 & 400 \\\hline\end{array}$

• A) $100
• B) $38
• C) $138
• D) $400

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Definitions:

Dinosaurs

A diverse group of reptiles of the clade Dinosauria, known from fossil evidence to have lived during the Mesozoic Era.

Phenotypes

Phenotypes are the observable characteristics or traits of an organism, resulting from the interaction of its genotype with the environment.

Genotypes

The genetic makeup of an organism determining its characteristic traits.

Gene Pool

The complete set of unique alleles in a population or species, representing its genetic diversity and potential for evolution.