The following details are relating to a contract: Contract Price ₹15,00,000 Notional Profit ₹1,98,000 Cash received ₹6,00,000 Work certified ₹7,50,000 Work uncertified ₹1,50,000 Amount of profit to be transferred to prof
CS Executive · Cost and Management Accounting · PYQS · December 2017
The following details are relating to a contract: Contract Price ₹15,00,000 Notional Profit ₹1,98,000 Cash received ₹6,00,000 Work certified ₹7,50,000 Work uncertified ₹1,50,000 Amount of profit to be transferred to profit and loss account : (A) ₹1,98,000 (B) ₹1,05,600 (C) ₹1,32,000 (D) ₹1,58,400
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Contract Costing
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