Q. When the completion stage of the contract is more than half, the profitto be credited to 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