alleryStart learning →Sectional completion allows a construction contract to have what?
AOnly one final completion date
BSeparate dates for each section
CCompletion before the tender
DPayment only after handover
Answer & Solution
Correct answer: B. Separate dates for each section
Larger staged projects set different completion dates for different parts, so the client can occupy finished sections early.
Keep practising Construction Contracts (AS 7)
Browse all Construction Contracts (AS 7) questions for CA Inter, or explore more Accounting topics.
Related questions
What does a guaranteed maximum price provide in a cost-plus contract?Unit cost contracts are often used for which type of construction?A lump sum and scheduled contract suits when what is true?Percentage of completion is an exception to which basic principle?Completion of production basis recognises revenue before sale for:Costs incurred plus recognised profits are reduced by which items?IAS 11 shows gross amount due from customers for contract work as:Excess of billings over costs on uncompleted contracts appears where?