Q.

When the completion stage of the contract is more than half, the profit to be credited to P/L a/c will be equal to ………………..

A. 2/3 *notional profit *CR/WC
B. Estimated profit *W.C/contract price
C. 1/3 * N.P * CR/W.C
D. Total profit
Answer» A. 2/3 *notional profit *CR/WC

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Applied Cost Accounting

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