When the completion stage of a contract is less than ¼, the total expenditure on the contract is transferred to...............................account.
A)work-in-progress
B)profit and loss account
C)miscellaneous account
D)none of these

Question

Quizplus · Accepted Answer

When the completion stage of a contract is less than ¼, the total expenditure is considered as work-in-progress, reflecting that the project is still in its early stages and not yet generating revenue.

When the Completion Stage of a Contract Is Less Than