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Accountancy (Phase -I & II)

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No journal entry is required to be passed when there is

Loss by theft

Normal loss

Loss of bad debts

Abnormal loss of business

Explanation:

No journal entry is required to be passed when there is Normal loss. Normal loss increases the cost of production of the usable goods realized. Normal loss means that loss which is inherent in the processing operations. It can be expected or anticipated in advance i.e. at the time of estimation

By: honey kaundal

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