Question

the value of abnormal loss is debited on the basis of
​

Answer 1

Answer:

Is debited in profit or loss alc...

Explanation:

bcoz its your loss in business

Answer 2

The value of abnormal loss is debited on the basis of ?

A. Profit and loss account

B. Consignee's account

C. Consignor's account

D. Consignment account

The correct answer is :

A. Profit and loss account

Explanation :

The value of abnormal loss is debited on the basis of Profit and loss account.

• In any business when a production process is carried out, a predetermined percentage of the production activity is pre-estimated as a normal loss.
• Taking this estimate as a normal loss, the production activity is carried forward.
• If an actual future story exceeds a previously anticipated predetermined loss, this difference is represented as an abnormal loss.
• This abnormal loss is debited to the profit and loss account.

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