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Remove Calculations to the Profit Maintenance Agreement

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Aug 6th, 2022

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How to Remove Calculations to the Profit Maintenance Agreement

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[Music] welcome to the legal zone your channel for legal information they were uncover child support the guidelines for child support are based upon the laws in the state that you are located in so always consult an attorney in your state regarding whether or not the information provided is applicable the child support state law is going to determine how much child support youre going to have to pay now keep in mind and if the child is born out of wedlock the first thing you want to do is get a DNA test now do not rely on the fact that the child has a crooked toe like your mother or crooked nose like your brother get DNA testing so you can resolve that issue while the child is still young now the obligation for child support can only be set or changed by court order so somebody is telling you that your child support has changed and youre not looking at a court order signed by Judge its probably not official now the obligation you also have to pay child support never goes anywhere an

Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

What are the rules for calculation of profit on an incomplete contract?

It is always valued as some % of contract price and hence includes profit. = Contract Price x Work Certified as % of Contract Price.

How are profit computed when the contract is completed?

It is always valued as some % of contract price and hence includes profit. = Contract Price x Work Certified as % of Contract Price.

How is profit treated on an incomplete contract?

transferred to Profit and Loss Account. However, when contract is not completed within the financial year, only a part of the profit arrived is taken into account and the remaining profit is kept as reserve to meet any contingent loss on the incomplete portion of the contract.

How do you calculate loss of profit in a contract?

Notional Profit: This is the actual profit earned by the contractor on completion of a project. It is calculated by deducting the cost of work certified from the value of work certified.

What is the basis for determining profit to be taken into account on incomplete contract?

The basis for determining profit to be taken into account on incomplete contract is percentage of work certified as done.

What are the ground rules for determining profit incomplete contract?

(1) The contractor is sure of making desired profit, irrespective of cost fluctuations. (2) It insures the contractor from price fluctuations. (3) The contractee knows definitely the profit to be earned by the contractor. (4) Contractee pays on the basis of cost rather than arbitrary price quoted.

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