Multiple Choice Questions on Loss occurs due to unexpected or abnormal conditions is ........ for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

Loss occurs due to unexpected or abnormal conditions is ........

Costing - Phase (I & II) Overview of Cost and Management Accounting
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    Loss occurs due to unexpected or abnormal conditions is:

    Normal Loss

    Incorrect Answer

    Abnormal Loss

    Correct Answer

    Natural loss

    Incorrect Answer

    Nominal loss

    Incorrect Answer
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    Explanation:

    Abnormal loss occurs due to unexpected or abnormal conditions like negligence, accidents, inefficiencies, use of sub-standard materials etc. this loss is charged to Costing Profit and Loss Account.

    Value of Abnormal Loss =

    Normal Cost of Normal output/Normal output (x) units of abnormal loss

    By: Vikas Goyal
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