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      Question

      While calculating equivalent completed/production units,

      which of the following statement is incorrect?
      A Equivalent units for Opening WIP is not shown separately under Average method Correct Answer Incorrect Answer
      B Abnormal Gain is treated as 50% complete in respect of all cost elements Correct Answer Incorrect Answer
      C For normal loss, no equivalent unit is calculated Correct Answer Incorrect Answer
      D Equivalent units for Opening WIP is calculated under FIFO method Correct Answer Incorrect Answer

      Solution

      The correct answer is B

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