Sailor Construction Company Has Consistently Used the Percentage-Of- Completion Method

question 12

Multiple Choice

Sailor Construction Company has consistently used the percentage-of- completion method.On January 10,2014,Sailor began work on a $3,000,000 construction contract.At the inception date,the estimated cost of construction was $2,250,000.The following data relate to the progress of the contract: How much gross profit should Sailor recognize for the year ended December 31,2015?

• A) $150,000
• B) $262,500
• C) $300,000
• D) $450,000

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Definitions:

Thalamus

A structure in the brain that acts as a relay station for sensory information, directing it to the appropriate areas of the brain for processing.

Emotional Importance

The significance or value assigned to an experience or event based on the emotional impact it has.

Polygraph

A polygraph, commonly known as a lie detector test, is an instrument that measures and records several physiological indicators such as blood pressure, pulse, respiration, and skin conductivity while a person is asked and answers a series of questions.

Lie Detection

The process of determining whether someone is lying through various means, including interrogation techniques and technology like polygraph tests.