When the completion stage of a contract is less than ¼ of the total expenditure on the contract is transferred to
A) Profit & Loss account
B) Work certified account
C) Work in progress account
D) Contract account
Correct Answer:
Verified
Q6: In job costing each job is a
Q7: In contract costing credit is taken only
Q8: If the contract is almost complete, the
Q9: Job costing can be done in conjunction
Q10: In contract costing most of the items
Q12: Contract testing is a basic method of
A)Specific
Q13: At break even point, the
A)Fixed cost equal
Q14: At break even point, the contribution equal
Q15: Break even chart depicts
A)Cost volume profit relationship
B)Relationship
Q16: Period costs means
A)Variable cost
B)Fixed cost
C)Prime cost
D)Direct cost
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents