In contract costing credit is taken only for a part of the profit on – McqOptions

MCQOPTIONS

1.	In contract costing credit is taken only for a part of the profit on
A.	Incomplete contract
B.	Complete contract
C.	Estimated contract
D.	Initial contract
Answer» B. Complete contract

Discussion

No Comment Found

Related MCQs

The loss incurred on an incomplete contract is transferred to account
In job costing each . Is a cost unit to which all costs are assigned
In a contract costing most of the items of cost are ..
. In a contract , provides that the contract price would be suitably enhanced on the happening of a specified contingency
When the completion stage of the contract is more than half, the profit to be credited to P/L a/c will be equal to ..
In .. contract the contractor will get cost plus stipulated profit
Scope of specific order costing is very wide and includes . , , .
is an important point to be determined in industries where batch costing is employed
When the competition stage of a contract is less than , the total expenditure on the contract is transferred to account
The additional cost of producing an additional unit is called .