Following information is provided in respect of a contract : Contract price: ₹10,00,000 Cost incurred: ₹5,60,000 Cash received: ₹5,40,000 Work not certified: ₹60,000 Deduction by way of retention money: 10% The amount of
CS Executive · Cost and Management Accounting · PYQS · June 2016
Following information is provided in respect of a contract : Contract price: ₹10,00,000 Cost incurred: ₹5,60,000 Cash received: ₹5,40,000 Work not certified: ₹60,000 Deduction by way of retention money: 10% The amount of notional profit is —
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Contract Costing
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