The loss incurred on an incomplete contract is transferred to
A) Profit and Loss Account
B) Contract account
C) Work certified
D) Work in progress account
Correct Answer:
Verified
Q9: ……………. is the budget incorporating all the
Q10: ……………. is the most important budget
A)Master budget
B)Cash
Q11: ……………. forms the basis on which all
Q12: The job costing each job is a
Q13: Job costing can be used in industries
Q15: Contract costing is a basic method of
A)Specific
Q16: In cost-plus contract, the contractor will get
Q17: In marginal costing valuation of stock of
Q18: In marginal costing selling price is based
Q19: The difference between selling price and marginal
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