Post Utme Eksu 2022 Accounting Question 29

Practice objective / multiple choice question 29 from the 2022 Post Utme Eksu Accounting examination.

Post Utme Eksu 2022 Accounting Objective / Multiple Choice
Question 29 POST_UTME_EKSU • 2022 • ACCOUNTING • objective

A company uses the percentage of completion method of accounting for its construction contracts. If the contract has a total contract price of ₦1,000,000 and the company has incurred ₦600,000 in costs to date, what is the amount of revenue that should be recognized for the period?

Answer Options

A. ₦300,000
B. ₦400,000
Correct Answer C. ₦500,000
D. ₦600,000
Correct Answer
C
Correct Option:
₦500,000

About This Question

This is Post Utme Eksu 2022 Accounting Question 29. It is one of the objective questions from the 2022 Post Utme Eksu Accounting examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support