When a trading partner agreement is in place, the traditional three way match may be eliminated

Indicate whether the statement is true or false


T

Business

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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: Gross profit recognized at December 31 . 2014 .......... $ 300,000 Costs incurred Jan. 10, 2011,

through Dec. 31 . 2015 ... 1,800,000 Estimated cost to complete at December 31 . 2015 ....... 600,000 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

Business

________________ is one of the costs of using e-mail.

a. Frivolous use b. Access to resources c. Monitoring d. Data protection

Business

In cultural relativism, ______ are legitimate only to the extent that they reflect the habits and attitudes of a given culture.

A. outcomes B. moral concepts C. cognitive morals D. utilitarianism

Business

Which of the following does NOT describe a transposition?

A. It is an error. B. It causes the difference between the debit total and the credit total to be divisible by 2. C. It causes the trial balance to be out of balance. D. It involves misplaced digits in a number.

Business