Abnormal loss and its value are _______.
A. debited to process a/c
B. credited to process a/c
C. debited to costing profit and loss a/c
D. debited to profit and loss a/c
Answer: Option B
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Related Questions on Costing
Basic objective of cost accounting is ________
A. tax compliance.
B. financial audit.
C. cost ascertainment.
D. profit analysis.
Process costing is suitable for ________.
A. hospitals
B. oil refing firms
C. transport firms
D. brick laying firms
The cost which is to be incurred even when a business unit is closed is a _____.
A. imputed cost
B. historical cost
C. sunk cost
D. shutdown cost
Option c
answer should be c
Answer: Option C
C. debited to costing profit and loss a/c