what is abnormal loss???
- 3 Answers
- 5954 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / ajay kumar
Those losses which is incurred in business by not natural
causes.such type of loss incurred by misbehaviour or
careless activity by any person in business is known is
abnormal loss.
such as :-A transport businesman transit the
petrolium.due to smoking of transport driver all van
distroyed.this is abnormal loss. but when the upload in
tank 500ltr. at source bt destination only 450 and not any
event in midway .that is normal loss.
| Is This Answer Correct ? | 6 Yes | 2 No |
Answer / yogendra.c
Simple Example to understand Normal & Abnormal Loss:
Normal Loss:
------------
small amount of milk vested when you opened a packet of milk & pouring to vessel or container
Abnormal Loss:
--------------
Loss of milk, when you forget to keep the milk for 1 or moreday in fridge because of your carelessness.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / shankar
The abnormal loss in quantity terms should deducted from tyhe gross input to obtain the normal (net) Out (normal output = gross input-Abnormal Loss Units)
The cost of abnormal loss units should be deducted from the total cost obtain the normal (net) Cost.(Normal cost=total cost- cost of abnormal loss units).
| Is This Answer Correct ? | 2 Yes | 2 No |
Explain the Steps to Define Expenses Report
Is it mandatory having Knowledge of auditing to an accountant ?
Where is Profit and Loss posted in a balance sheet?
what is difference between cost and expenditure and expence
Explain the process of withhold tax invoice
accounting concepts
What is an Debenture
what is bills receviables?
Is tmb is nationalized bank?
The ratio of the prices of three different types of cars is 4:5:7. If the difference between the prices of costliest and the cheapest cars is Rs.60000 what is the price of the car of moderate price ?
What are the uses of journal in accounting?
Re: one customer visit the showroom of phones and purchased the phone of Rs 750 and gave the 1000 rupees note the showroom executive didn't have the change so he take the change from next to his showroom's shop then he deliver the phone to customer with the change of rs 250.and customer went with both after sometime the shop owner of next to showroom who gave the change of Rs 1000 with angry and told the showroom executive that the note you give it to me is fake! so showroom executive gave him Rs1000 to him.so my(question) is how much the showroom executive faced the loss on this transaction. (the answer is neither 750,1000,1250,1500,1750 nor 2000) please reply the answer because its urgent with the explanation of u'r answer thankyou.
Audit 
