If the contract is almost complete, the amount of profit generally transferred to profit and loss account is equal to

Related MCQs

• If the contract is almost complete , the amount of profit generally transferred to profit and loss account is equal to
• ……………….. process loss should be transferred to costing profit and loss account
• The loss incurred on an incomplete contract is transferred to ……… account
• When the competition stage of a contract is less than ¼ , the total expenditure on the contract is transferred to ………… account
• The loss incurred on an incomplete contract is transferred to
• When the completion stage of a contract is less than ¼ of the total expenditure on the contract is transferred to
• 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 equal to or more than 90% of contract price, profit to be credited is……………….
• Any loss over and above the normal loss is called
• When the actual loss is more than the estimated loss, the difference between the two is considered to be ,………………….