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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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