Profit to be transferred to P& L A/c , if the contract is complete to the extent of only 20% is _____.

Related MCQs

• When the completion 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 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.
• …………..process loss should be transferred to costing profit & loss account.
• The loss incurred on an incomplete contract is transferred to …………….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.
• Material losses due to abnormal reasons should be transferred to…………………
• In inter process profits, the output of one process is transferred from one process to another not at …………….but at ……………….
• When the under or over absorbed amount is quite negligible, it is transferred to