Sanjeev Enters into a Contract Offering Uncertain Consideration

question 100

Multiple Choice

Sanjeev enters into a contract offering uncertain consideration. The contract pays him $1,000/month for six months of continuous consulting services. In addition, there is a 60% chance the contract will pay an additional $2,000 and a 40% chance the contract will pay an additional $3,000, depending on the outcome of the consulting contract. Sanjeev estimates uncertain consideration using the most likely amount. What is the amount of revenue Sanjeev would recognize for the first month of the contract?

• A)$0.
• B)$1,000.
• C)$1,333.
• D)$1,400.

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Definitions:

Human Genome Project

An international scientific research project aimed at mapping and understanding all the genes of the human species.

Genetic Variations

Genetic variations refer to differences in the DNA sequences among individuals, which contribute to the diversity in physical appearance, health conditions, and responses to the environment.

Karyotyping

The process of pairing and ordering all the chromosomes of an organism, providing valuable information for genetic diagnosis and research.

Chromosomes

Structures within cells that contain DNA and carry genetic information for the transmission of inherited traits.