If the contract is almost complete, the amount of profit generally transferred to profit and loss account is equal to | Faculties

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Mr. Dubey

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📊 Applied Cost Accounting

Q. If the contract is almost complete, the amount of profit generally transferred to profit and loss account is equal to

(A) Estimated profit*(Contract price/Work certified)
(B) National profit*(Cash Received/Work certified)
(C) Estimated profit*(Work certified/Contract price)
(D) Work certified*(Contract price/Estimated price)

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✅ Correct Answer: (C) Estimated profit*(Work certified/Contract price)

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