In 2018, Cupid Construction Co

question 253

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 were the construction billings by CCC during 2018?

• A) $142.5 million.
• B) $67.5 million.
• C) $37.5 million.
• D) Cannot be determined from the given information.

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Definitions:

Inference

The act of reaching a conclusion based on evidence and reasoning rather than explicit statements.

Cultivate

To develop or improve by education or training; to foster growth or development.

Positive Critical Thinking

The application of critical analysis and evaluation in a constructive and optimistic manner to solve problems or make decisions.

Mindset

A set of attitudes or beliefs that shape one's way of thinking and influence one's actions or responses to situations.