Explain the following: (i). Notional profit in contract costing. (ii). Retention money in contract costing.
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Explain the following:
(i). Notional profit in contract costing.
(ii). Retention money in contract costing.
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In contract costing which is a specific method of cost accounting used primarily in construction and similar industries notional profit and retention money are important concepts Heres an explanation ...View the full answer
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