MCQs > Finance & Management > Financial Statements > If a company is using the installment method of accounting for a project with a gross profit of 30%, how much revenue will be recorded when the initial $100,000 payment is received?

Financial Statements MCQs

If a company is using the installment method of accounting for a project with a gross profit of 30%, how much revenue will be recorded when the initial $100,000 payment is received?

Answer

Correct Answer: $30,000

Explanation:

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