Question

in farm accounting output used by owner's family should be treated​

Answer 1

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