when the completion stage of contract is less than 1 4 the total expenditure on cont 619624

1. Contract cost may be defined as the aggregate cost relative to a ______ designated a cost unit.
2. In a contract, work is mainly involved in ______ activity.
3. Generally, contracts are of ______ duration.
4. Contract-costing method is similar to ______ .
5. The contract work is carried out according to ______ of customers.
6. Progress payments are made on the basis of ______ .
7. Deductions that are made from progress payments are called __________ .
8. To encourage an early completion of contracts, ________ clause and _____ clause are incorporated in contracts.
9. The contractor is compensated for price rise by including ________ clause.
10. There are two types of contracts: 1: fixed-price contract and 2: _________ .
11. The costs which are incurred for contracts are mainly of _________ .
12. Apportionment of administration overheads are done on the basis of _________ .
13. Payments to sub-contractors are charged to respective _________ .
14. Where no cost estimate is possible ________ contracts are suitable.

When the completion stage of contract is less than 1/4, the total expenditure on contract is transferred to _________ .