If the value of work certified equal to or more than 90% of contract price, profit to be credited is……………….
A) 2/3 * National profit * (Cash received/Work certified)
B) No profit credited to P&L a/c
C) Estimated profit on completion*(Work certified/Contract price)
D) 1/3 * National profit * (Cash received/Work certified)
Correct Answer:
Verified
Q1: The cost of work that has been
Q2: Retention money is retained by whom ………………….
A)Contractor
B)Contractee
C)Both
Q3: If the value of work certified less
Q4: In which situation, 2/3 of national profit
Q6: Example for cost plus contract
A)Construction work in
Q7: The expenses incurred in extra work is
A)Debited
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