Highrise Constructions Ltd Had a Large Three-Year Project with Total

question 3

Multiple Choice

Highrise Constructions Ltd had a large three-year project with total revenue of $5 000 000 and estimated total costs of $4 200 000.The project was 25 per cent complete at the end of the first year,55 per cent complete at the end of the second year and 100 per cent complete at the end of the third year.Revenues and costs were as estimated.
- How much profit was earned during the second year if the percentage of completion method was used?

• A) $200 000
• B) $240 000
• C) $440 000
• D) $1 500 000

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Definitions:

Quality

The degree of excellence or superiority of something, often measured against other similar things.

Open Sentence

In predicate logic, a statement with a free variable.

Variable

1. In symbolic logic, a symbol that stands for some, but any, unnamed individual thing; 2. In statistics, a trait regarded as a generic attribute that can exist in different degrees (values).

Closed Sentence

In predicate logic, a statement in which every variable is bound by a quantifier.