The following could relate to contract costing:

(i) Work is for a period of long duration.

(ii) Progress payments are amounts paid for the contract throughout the course of the contract.

(iii) Architects’ certificates are provided to establish the amount of work certified.

Which of the above are correct?

(a) (i) and (ii) only

(b) (i) and (iii) only

(c) (ii) and (iii) only

(d) (i), (ii) and (iii)

2 marks)
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