When the completion stage of a contract is less than ¼ of the total expenditure on the contract is transferred to

Related MCQs

• When the competition stage of a contract is less than ¼ , the total expenditure on the contract is transferred to ………… 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 ………………..
• If the value of work certified less than 25% of contract price,profit to be credited to P&L is
• 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
• The loss incurred on an incomplete contract is transferred to
• If the contract is almost complete, the amount of profit generally transferred to profit and loss account is equal to
• Work in the process of completion
• ……….. is the portion of work certified not paid by the contractee till completion of the work
• The work in the process of completion is known as …………….