[amp_mcq option1=”debited to contract a\/c” option2=”credited to contract a\/c” option3=”debited to contractor a\/c” option4=”debited to profit and loss a\/c” correct=”option1″]<\/p>\n
The correct answer is A. debited to contract a\/c<\/strong>.<\/p>\n Work uncertified is the work that has been completed by the contractor but has not yet been certified by the owner. This work is recorded as a debit to the contract account and a credit to the contractor’s account. This is because the contractor has incurred the cost of the work but has not yet been paid for it.<\/p>\n Option B is incorrect because work uncertified is not credited to the contract account. This is because the work has not yet been completed and accepted by the owner.<\/p>\n Option C is incorrect because work uncertified is not debited to the contractor’s account. This is because the contractor has not yet been paid for the work.<\/p>\n Option D is incorrect because work uncertified is not debited to the profit and loss account. This is because the work has not yet been completed and accepted by the owner.<\/p>\n","protected":false},"excerpt":{"rendered":" [amp_mcq option1=”debited to contract a\/c” option2=”credited to contract a\/c” option3=”debited to contractor a\/c” option4=”debited to profit and loss a\/c” correct=”option1″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[952],"tags":[],"class_list":["post-48626","post","type-post","status-publish","format-standard","hentry","category-costing","no-featured-image-padding"],"yoast_head":"\n