McqMate
Sign In
Hamberger menu
McqMate
Sign in
Sign up
Home
Forum
Search
Ask a Question
Sign In
McqMate Copyright © 2024
→
Bachelor of Commerce (B Com)
→
Cost and Works Accounting 2
→
Contract Costing
→
A contract is generally of ………………..durat...
Q.
A contract is generally of ………………..duration.
A.
Long
B.
Small
C.
Average
D.
Very Small
Answer» A. Long
526
0
Do you find this helpful?
7
View all MCQs in
Cost and Works Accounting 2
Discussion
No comments yet
Login to comment
Related MCQs
Sub contract cost is always to be treated as ……………….to the contract.
Escalation clause is generally included in case of …………..contract agreement .
Job costing is a costing method applied where work is undertaken to customers’ special requirements and each order is of comparatively short duration.
The loss incurred on an incomplete contract is transferred to …………….account.
When the completion stage of the contract is more than half, the profit to be credited to Profit and Loss account will be equal to…………..
If the amount of work certified is less than………of the contract price,then no profit should be taken to Profit & Loss Account.
Contract costing is not used in one of the following industries.
The sum of value of work certified and uncertified appearing in the Contract Account is called ……………..
WIP in contract means:
Profit in incomplete contract in known as notional profit because: