The total profit on a contract for ₹3,00,000 is ₹60,000 when the contract is 60% complete and has been duly certified. If the retention money is 20% of the certified value, the amount of profit that can be prudently cred
CS Executive · Cost and Management Accounting · PYQS · June 2018
The total profit on a contract for ₹3,00,000 is ₹60,000 when the contract is 60% complete and has been duly certified. If the retention money is 20% of the certified value, the amount of profit that can be prudently credited to profit and loss account is:
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Cost and Management Accounting
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