In contract costing, cash received = ?

CS Executive · Cost and Management Accounting · PYQS · December 2019
In contract costing, cash received = ?
(A) Value of Work Certified - Retention Money
(B) Value of Work Certified + Retention Money
(C) Value of Work Certified + Work Uncertified - Retention Money
(D) Value of Work Certified + Work Uncertified + Material in Hand - Retention Money

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Contract Costing

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