Post Utme Lasu 2023 Accounting Question 10

Practice objective / multiple choice question 10 from the 2023 Post Utme Lasu Accounting examination.

Post Utme Lasu 2023 Accounting Objective / Multiple Choice
Question 10 POST_UTME_LASU • 2023 • ACCOUNTING • objective

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

Answer Options

A. ₦400,000
Correct Answer B. ₦500,000
C. ₦600,000
D. ₦700,000
Correct Answer
B
Correct Option:
₦500,000

About This Question

This is Post Utme Lasu 2023 Accounting Question 10. It is one of the objective questions from the 2023 Post Utme Lasu Accounting examination.

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