Which of the following statements is NOT
true about contract costing?
Options
O Number of contracts undertaken at a time is
limited
O Indirect costs are higher as compared to job
costing
O Work is done at the site of the customer
Requires long period for completion
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The statement is Indirect costs are higher as compared to job costing.
- It is the monitoring of costs linked with a specific contract with a client
- An ideal system accomplishes the aims by undertaking certain contracts and completing them.
- Ideally the cost of this system is reduced with lower indirect costs as compared to others.
- This must result in an increase in benefit as compared to deployment costs.
- Furthermore, the records to be kept must allow for comparison across time. The papers from the past will be used to shape the future.
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