When the competition stage of a contract is less than ¼ , the total expenditure on the contract is transferred to ………… account

Related MCQs

• When the completion stage of a contract is less than ¼ of the total expenditure on the contract is transferred to
• The loss incurred on an incomplete contract is transferred to ……… account
• If the contract is almost complete , the amount of profit generally transferred to profit and loss account is equal to
• If the contract is almost complete, the amount of profit generally transferred to profit and loss account is equal to
• If the value of work certified less than 25% of contract price,profit to be credited to P&L is
• ……………….. process loss should be transferred to costing profit and loss account
• 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 ………………..
• The loss incurred on an incomplete contract is transferred to
• Contract account is a form of ………………….
• Where actual loss in a process is less than the anticipated loss , the difference b/w the two is considered to be …………..