Top 50+ Solved Contract Costing MCQ Questions Answer
Q. Work certified in a subsequent year is always ……………… than that the inpreceding year.
a. Greater
b. Less
c. Equal
d. Greater than Equal to
Q. Cost of defective materials should be……………………to costing P/L accountand……………….to contract account.
a. Debited, Credited
b. Credited, Debited
c. Charged, record
d. Record, Apply
Q. Escalation Clause aims at safeguarding the interest of the ……………….against unforeseen rise in cost.
a. Contractor.
b. Contractee
c. Builder
d. Party
Q. Sub contract cost is always to be treated as ……………….to the contract.
a. Indirect charge
b. Direct charge
c. Income
d. Revenue