Given, Contract price ₹40 Lakh, Work certified ₹25 Lakh and Cash received ₹20 Lakh. If loss amounted to ₹1.5 Lakh, then amount of loss transferred to profit and loss account will be :
CS Executive · Cost and Management Accounting · PYQS · December 2018
Given, Contract price ₹40 Lakh, Work certified ₹25 Lakh and Cash received ₹20 Lakh. If loss amounted to ₹1.5 Lakh, then amount of loss transferred to profit and loss account will be :
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D).
Topics: Contract Costing
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