The loss incurred on an incomplete contract is transferred to ………….account.
A) costing profit and loss account
B) profit and loss account
C) trading account
D) deferred to next year.
Correct Answer:
Verified
Q11: Each job has a ..................... prepared for
Q12: An automobile service unit uses..........................costing.
A)specific order
B)batch
C)job
D)contract
Q13: Economic Batch Quantity is an important point
Q14: Economic Batch Quantity depends on...........................and…………..costs.
A)material, labour
B)set-up costs,
Q15: The .....................costing is applied when a quantity
Q17: When the completion stage of the contract
Q18: When the completion stage of a contract
Q19: If the amount of work certified is
Q20: Contract costing is not used in one
Q21: The sum of value of work certified
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