Assertion (A) Cash is withheld by the contractee under the terms of the contract when payment of the value of work certified is being made. Reason (R) Retention money is treated as safeguard against any damage or bad qua
CS Executive · Cost and Management Accounting · PYQS · December 2016
Assertion (A) Cash is withheld by the contractee under the terms of the contract when payment of the value of work certified is being made. Reason (R) Retention money is treated as safeguard against any damage or bad quality work in the contract and released after certain time period of completion of the contract. Select the correct answer from the options given below —
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Cost Accounting
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