Contract price ₹18,00,000, 70% of the contract was completed. Architect gave certificate for 60% of the contract price on which 80% was paid. Cost incurred till date ₹10,50,000. Cost of work uncertified will be:
CS Executive · Cost and Management Accounting · PYQS · June 2019
Contract price ₹18,00,000, 70% of the contract was completed. Architect gave certificate for 60% of the contract price on which 80% was paid. Cost incurred till date ₹10,50,000. Cost of work uncertified will be:
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Contract Costing
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