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Which costs shall from part of contract costs of long-term

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Reference no: EM132844216

problem 1: Contract revenue in construction contract comprises

a. The initial amount of revenue agreed in the contract

b. The initial amount of revenue agreed in the contract and progress billings.

c. Variation in contract work, claim and incentive payment

d. The initial amount of revenue agreed in the contract, variation in contract work, claim and incentive payment.

problem 2: Which of the following costs shall from part of contract costs of long-term construction contract?

a. Construction overheads including costs such as the preparation and processing of construction personnel payroll.

b. Research and development costs for which reimbursement is not specified in the contract

c. Selling costs such as broker's commission

d. General administration costs for which reimbursement is not specified in the contract

Reference no: EM132844216

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