ECONOMICS

Detailed explanation-1: -Work certified is the work completed and certified by the engineer and work uncertified is that which is completed but not certified by the engineer. Work certified and work uncertified are part of work in progress and to be recorded in contract account.

Detailed explanation-2: -The term work-in-progress (WIP) is a production and supply-chain management term describing partially finished goods awaiting completion.

Detailed explanation-3: -Definitions of uncertified. adjective. lacking requisite official documentation or endorsement. Antonyms: certified. endorsed authoritatively as having met certain requirements.

Detailed explanation-4: -Work Uncertified (a) The cost of work uncertified represents the cost of work which has already been. completed, but for that the contractor has not received completion certificate from the contractee’s surveyor or architect.

Detailed explanation-5: -(v) Work-in-progress In Contract Accounts, the value of the work-in-progress consists of:-(a) the cost of work completed, both certified and uncertified, (b) the cost of work not yet complete, and (c) the amount of profit taken as credit.