INTERVIEW QUESTIONS FINANCIAL ACCOUNT CONSIGNMENT ACCOUNT DETAILS

Question: What is the accounting treatment for abnormal gain?

Answer: The value of abnormal gain is transferred to the debit side of the relevant process and ultimately closed by crediting it to the costing Profit and Loss account.

The value of abnormal gain is transferred to the debit side of the relevant process and ultimately closed by crediting it to the costing Profit and Loss account.
Source: CoolInterview.com

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