Question

48. Abnormal loss is valued at
(i) Cost of output
(iii) Marginal cost
(1.5 Points)
(ii) Market value
(iv) Standard cost
only ii
iii ,ili and iv
ili and iii
only i​

Answer 1

Explanation:

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Answer 2

The correct answer is:- ii) Market value.

• As we know in a given question, we have been instructed to choose the correct option among the four other options that are given below.
• As we know that the value of the good that has been lost in the process is taken as the market value of the product.
• The loss that has been incurred during the financial year that is beyond certainty, is known as abnormal loss.
• Abnormal losses can be like if there is a fire in a factory or if the products are damaged due to rain, such things that cannot be controlled by us.
• Hence, the correct answer is ii) Market value.