in farm accounting output used by owner's family should be treated
Answers
Answered by
0
In farm accounting output used by owner's family should be treated as Abnormal loss.
What is abnormal loss in accountancy?
- As the name describes, an abnormal loss can be described as a kind of loss which had occurred other than the expected normal loss.
- Any kind of output in farming, when used by the owners family comes under abnormal loss.
- Other options, such as normal loss is not correct as a such a loss occurs during the production process.
The question is not complete. The complete question is:
In farming accounting, the output used by owner’s family should be treated as
a. Income b. Expenditure c. Abnormal loss d. Normal loss
#SPJ2
Similar questions