n 2017, Al –Tawaan would report (rounded to the nearest thousand) gross profit (loss) of:
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14. Al –Tawaan Plastics entered into a contract to install a pipeline for a fixed price of OR2,200,000. Al –Tawaan uses the cost recovery method of revenue recognition.
2015 2016 2017
Cost incurred 250,000 1,600,000 450,000
Estimated cost to complete 1,550,000 500,000 0
In 2016, Al –Tawaan would report (rounded to the nearest thousand) gross
Select one:
2015 2016 2017
Cost incurred 250,000 1,600,000 450,000
Estimated cost to complete 1,550,000 500,000 0
In 2017, Al –Tawaan would report (rounded to the nearest thousand) gross profit (loss) of:
Select one:
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