Post Utme Lasu 2022 Accounting Question 4

Practice objective / multiple choice question 4 from the 2022 Post Utme Lasu Accounting examination.

Post Utme Lasu 2022 Accounting Objective / Multiple Choice
Question 4 POST_UTME_LASU • 2022 • ACCOUNTING • objective

A company uses the percentage of completion method to account for construction contracts. If the contract price is ₦1,000,000, and the costs incurred to date are ₦600,000, what is the amount of revenue recognized if the percentage of completion is 75%?

Answer Options

Correct Answer A. ₦750,000
B. ₦600,000
C. ₦450,000
D. ₦300,000
Correct Answer
A
Correct Option:
₦750,000

About This Question

This is Post Utme Lasu 2022 Accounting Question 4. It is one of the objective questions from the 2022 Post Utme Lasu Accounting examination.

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