28. XYZ contractor provides the following information: Contract price is ₹4,00,000. Cash received on account was ₹3,00,000. Work certified ₹3,50,000. Cost of work done up to date ₹2,95,000. Calculate profit to be conside
CS Executive · Cost and Management Accounting · PYQS · June 2021
28. XYZ contractor provides the following information: Contract price is ₹4,00,000. Cash received on account was ₹3,00,000. Work certified ₹3,50,000. Cost of work done up to date ₹2,95,000. Calculate profit to be considered on contract.
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Contract Costing
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