单选题 A project has the following estimated revenues of $10.0 million and estimated costs are $ 7.5 million. The table below provides information on amounts billed, cash received, and cost incurred for each year of the 3-year project(data is in millions of dollars). Year1 Year2 Year3 Amounts billed 4.0 3.5 2.5 Cash received 2.0 5.0 3.0 Cost incurred 3.0 3.0 1.5 Which of the following statements relating to the cumulative balance sheet and income statement at year-end is least accurate? A. Using the accounting method that smooths income, the company will recognize profit of $ 0.5 million in year 3. B. Considering this project only, and using the percentage of completion method, total assets at the end of year 3 will be $ 2.5 million. C. If ultimate payment is assured and the cost estimates are unreliable, the company will recognize profit of $1 million in year 2.