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Question 84

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Use the following information for questions. Piano Construction Corp.began operations in 2014.Construction activity for 2014 is shown below.Piano uses the completed-contract method. Use the following information for questions. Piano Construction Corp.began operations in 2014.Construction activity for 2014 is shown below.Piano uses the completed-contract method. -Which of the following should be shown on the statement of financial position at December 31, 2014 related to Contract 2? A) Inventory, $272,000 B) Inventory, $328,000 C) Liability, $272,000 D) Liability, $600,000
-Which of the following should be shown on the statement of financial position at December 31, 2014 related to Contract 2?


A) Inventory, $272,000
B) Inventory, $328,000
C) Liability, $272,000
D) Liability, $600,000

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