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      Question

      The loss incurred on an incomplete contract is

      transferred to …………….account.
      A Costing profit and loss account Correct Answer Incorrect Answer
      B profit and loss account Correct Answer Incorrect Answer
      C trading account Correct Answer Incorrect Answer
      D deferred to next year Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      Losses incurred on an incomplete contract is transferred to Costing P & L account.            

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