Question 15

1. The contract price in a construction contract for purposes of applying percentage of completion accounting is defined as:

   	A.	The amount the contractor will definitely receive under a long-term contract.
   	B.	The amount the contractor will reasonably expect to receive under the contract.
   	C.	A contract that does not include retainages and cost reimbursements.
   	D.	A contract that does not have any contingency clauses.