In 2018, Cupid Construction Co

question 183

Multiple Choice

In 2018, Cupid Construction Co. (CCC) began work on a two-year fixed price contract project. CCC recognizes revenue over time according to percentage of completion for this contract, and provides the following information (dollars in millions) :
-What is the amount of gross profit on the project recognized by CCC during 2018?

• A) $160 million.
• B) $72 million.
• C) $48 million.
• D) Cannot be determined from the given information.

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Definitions:

UI

Universal Instantiation, a logical rule of inference stating if something is true for everything in a category, it is true for any specific instance of that category.

Quantifier-Negation Rule

A principle in formal logic that deals with the relationship between quantifiers and the negation of statements.

Quantifier

A symbol or word in logic that specifies the quantity of specimens in the domain of discourse that satisfy an open formula.

Negation

The contradiction or denial of something, or the operation of inverting the truth value in logic.