If the value of work certified equal to or more than 90% of contract price, profit to be credited is………………. | Faculties

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Mr. Dubey

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📊 Applied Cost Accounting

Q. If the value of work certified equal to or more than 90% of contract price, profit to be credited is……………….

(A) 2/3 * National profit * (Cash received/Work certified)
(B) No profit credited to P&L a/c
(C) Estimated profit on completion*(Work certified/Contract price)
(D) 1/3 * National profit * (Cash received/Work certified)

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

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