AAA has a contract to build a building for $100,000 with an estimated time to completion of three years. A reliable cost estimate for the project is $60,000. In the first year of the project, AAA incurred costs totaling $24,000. How much profit should AAA report at the end of the first year under the percentage-of-completion method and the completed-contract method?　Percentage-of-completion　　Completed-contract —— 财会经济>CFA特许金融分析师 > CFA考试（Level Ⅰ） > Study Session 8　Financial Reporting and Analysis Income Statements, Balance Sheets, and Cash Flow Statements

财会经济>CFA特许金融分析师 > CFA考试（Level Ⅰ） > Study Session 8　Financial Reporting and Analysis Income Statements, Balance Sheets, and Cash Flow Statements

单选题 编号：2689762

1. AAA has a contract to build a building for $100,000 with an estimated time to completion of three years. A reliable cost estimate for the project is $60,000. In the first year of the project, AAA incurred costs totaling $24,000. How much profit should AAA report at the end of the first year under the percentage-of-completion method and the completed-contract method?
　Percentage-of-completion　　Completed-contract

A.$16,000　　　　　　　　　　$0
B.$16,000　　　　　　　　　　$40,000
C.$40,000　　　　　　　　　　$0

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