JRE2 Inc. entered into a contract to install a pipeline for a fixed price of $2,200,000. JRE2 recognizes revenue upon contract completion.
-In 2019, JRE2 would report gross profit (loss) of:
A) $(100,000).
B) $50,000.
C) $123,000.
D) $2,000.

Question

JRE2 Inc. entered into a contract to install a pipeline for a fixed price of $2,200,000. JRE2 recognizes revenue upon contract completion.  
-In 2019, JRE2 would report gross profit (loss) of:
A) $(100,000). 
B) $50,000. 
C) $123,000. 
D) $2,000.

Quizplus · Accepted Answer

11ea937b_364a_22e0_a419_835d8b3700be_TB2599_00

JRE2 Inc Entered into a Contract to Install a Pipeline for for a Fixed