When the completion 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 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 loss incurred on an incomplete contract is transferred to ………….account.
• When actual loss is less than the estimated loss, the difference between the two is considered to be……………
• Where actual loss in a process is less than the anticipated loss, the difference between the two is considered to be ………………..
• …..arises where the actual process loss is less than the normal predetermined process loss.
• The total variable cost.......................................in total proportion to output.
• Material losses due to abnormal reasons should be transferred to…………………
• .............……….process loss should be transferred to costing profit & loss account.
• In inter process profits, the output of one process is transferred from one process to another not at …………….but at ……………….