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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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