Q. When the completion stage of the contract is more than half, the profit to be creditedto Profit and Loss account will be equal to………….. (Solved)
1. 1/3rd of Notional Profit x cash received Work certified
2. ½ of Notional Profit x cash received Work certified
3. 2/3rd of Notional profit x cash received Work certified
4. full Notional Profit.
- c. 2/3rd of Notional profit x cash received Work certified