Value of normal loss is charged to ________.
A. other good product
B. trading a/c
C. profit and loss a/c
D. costing profit and loss a/c
Answer: Option A
Solution(By Examveda Team)
Value of normal loss is charged to other good product. The value of normal loss is assessed on the basis of the production cost with which the profit and loss account is charged.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
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