Question

Choose the correct answer: In contract costing, contract account is prepared by (a) contractee (b) contractor (c) both a \& b (d) none of these.

   Choose the correct answer:
 In contract costing, contract account is prepared by
(a) contractee
(b) contractor
(c) both a \& b
(d) none of these.

Cost Accounting

Cost Accounting

K. Alex 1st Edition

Chapter 10, Problem 1

Instant Answer

Step 1

- "Contract costing" is a specific form of job costing which is used when the work is undertaken according to customer specifications and each job or order is of long duration. It involves large-scale projects like construction, ship-building, etc. - "Contract Show more…

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Choose the correct answer: In contract costing, contract account is prepared by (a) contractee (b) contractor (c) both a \& b (d) none of these.

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