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    Question

    If the amount of work certified is 20% of the contract

    price, then how much profit should be taken to Profit & Loss Account?
    A 20% Correct Answer Incorrect Answer
    B 25% Correct Answer Incorrect Answer
    C 33 1/3% Correct Answer Incorrect Answer
    D 0% Correct Answer Incorrect Answer
    E 5% Correct Answer Incorrect Answer

    Solution

    If the amount of work certified is less than 25% of the contract price, then no profit should be taken to Profit & Loss Account.

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