A project has estimated revenues of $10.0

题目：

A project has estimated revenues of $10.0 million and estimated costs of $7.5 million. The following table provides information on amount billed, cash received, and cost incurred for each year of the 3-year project (data are in $ millions).（）

	Year 1	Year 2	Year 3
Amount billed	3.0	4.0	3.0
Cash received	3.0	5.0	2.0
Cost incurred	2.0	3.0	2.5

Which of the following statements relating to the cumulative balance sheets and income statement at year-end is least accurate

A. Using the revenue recognition method that tends to smooth income, the company will recognize profit of $ 0.83 million in year 3. 

B. If ultimate payment is assured and the cost estimates are unreliable, the company will recognize profit of $1.5 million in year 2. 

C. Considering this project only and using the percentage of completion method, total assets at the end of year 3 will be $ 2.5 million.