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Unformatted text preview: are presented below: 6. (20 points) Assuming BCC uses the percentage-of-completion method of revenue recognition, the gross profit recognized in 2010 would be (rounded to the nearest thousand): A. $33,000. B. $36,000. C. $69,000. D. $30,000. 7. (20 points) Assuming BCC uses the percentage-of-completion method of recognition the gross profit recognized in 2011 would be (rounded to the nearest thousand): A. $6,000. B. $39,000. C. $42,000. D. $45,000. 8. Assuming BCC used the cost recovery method to recognize revenue under IFRS, what would gross profit have been in 2010 and 2011 (rounded to the nearest thousand)? A. Option A B. Option B C. Option C D. Option D...
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This note was uploaded on 02/15/2011 for the course ACC 550 taught by Professor Lin during the Spring '11 term at Prince George's Community College, Largo.
- Spring '11