Multiple Choice
Use the information below to answer the following questions:
The profit for a particular project of Blue Fin Ltd, using the percentage of completion method, was $470 000 for year 1 and $690 000 for year 2 (completion) .
-What difference would there be to the total profit for two years if the completion of production method were used?
A) Profit would be $1 160 000 higher.
B) Profit would be $690 000 higher.
C) Profit would be $470 000 higher.
D) There would be no difference.
Correct Answer:

Verified
Correct Answer:
Verified
Q19: Although revenue may be recognised at various
Q37: Use the information below to answer the
Q38: Use the information below to answer the
Q39: Use the information below to answer the
Q41: Use the information below to answer
Q43: Identify the point at which revenue would
Q44: Use the information below to answer
Q45: Revenue should not be recognised unless:<br>A) the
Q46: Use the information below to answer the
Q47: Use the information below to answer the