When a contract is debited with the original cost of the plant , it should credited with ………… at the end of the year

Related MCQs

• 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 ………………..
• If the value of work certified less than 25% of contract price,profit to be credited to P&L is
• If the value of work certified equal to or more than 90% of contract price, profit to be credited is……………….
• If abnormal loss has any scrap value , it should be credited to
• ……………. In a contract , provides that the contract price would be suitably enhanced on the happening of a specified contingency
• When the competition stage of a contract is less than ¼ , the total expenditure on the contract is transferred to ………… account
• In a contract costing payment of cash to the contract is made on the basis of …………………………. Work
• A contract in which the price is fixed in advance is a ………….. contract
• When the completion stage of a contract is less than ¼ of the total expenditure on the contract is transferred to
• The process A/c is debited with