Profit is:

Related MCQs

• When the completion stage of the contract is more than half, the profit to be credited to Profit and Loss account will be equal to…………..
• If the amount of work certified is less than………of the contract price, then no profit should be taken to Profit & Loss Account.
• The deviation of the actual cost or profit or sales from the standard cost or profit or sale is known as …………
• Over valuation of ________ in cost accounts is deducted to costing profit to find out financial profit.
• …………..process loss should be transferred to costing profit & loss account.
• In process costing, the abnormal loss is treated as ……….cost and written off to profit & loss account.
• The budget which commonly takes the form of budgeted profit and loss account and balance sheet is
• Profit to be transferred to P& L A/c , if the contract is complete to the extent of only 20% is _____.