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Subject - Accounting:

Cost and Management Accounting

MCQ - 249-251

Question:

In process costing, if an abnormal loss arises, the process account is generally

  1. Debited with the scrap value of the abnormal loss units
  2. Debited with the full production cost of the abnormal loss units
  3. Credited with the scrap value of the abnormal loss units
  4. Debited with the full production cost of the abnormal loss units

Correct Answer: D

Explanation:

Not Required

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355 MCQ for effective preparation of the test of Cost and Management Accounting of Accounting section.

Read the MCQ statement: In process costing, if an abnormal loss arises, the process account is generally , keenly and apply the method you have learn through the video lessons for Cost and Management Accounting to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 249-251.

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Solve the question for MCQ No. and decide which option (A through D/E) is the best choice to answer the MCQ, then click/tap the blue button to view the correct answer and it explanation.

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