NECO Accounting 2025 Objective — Question 37
Question 37 of 60 from the National Examinations Council (NECO) Accounting 2025 Objective paper, with the correct answer and a full explanation.
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What is the percentage of a contract value a client is expected to hold for a specified period after completion of the contract?
- A. 50%
- B. 40%
- C. 30%Correct
Explanation
Typically, 30% of the contract value is retained as retention money until completion of the contract.
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