Explanation:

- Abnormal loss in consignment refers to losses that are not part of regular operations and need to be recorded distinctly.

- Option 1: Profit and Loss Account - While abnormal losses impact this account eventually, they are initially recorded elsewhere.

- Option 2: Consignee's Account - This account reflects the consignee's responsibilities and transactions, not the principal's losses.

- Option 3: Consignment Account - Correct. Abnormal loss is first credited to the Consignment Account to adjust for unexpected losses separately from normal transactions.

- Option 4: Income and Expenditure Account - Typically used by non-profit organizations for regular operational tracking.