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      Question

      Any accidental loss to the consigned goods or loss

      caused by carelessness will be classified as which among the following in the terminology of Process Costing?
      A Normal Loss Correct Answer Incorrect Answer
      B Abnormal Loss Correct Answer Incorrect Answer
      C Non-Operating Loss Correct Answer Incorrect Answer
      D Extra-ordinary Loss Correct Answer Incorrect Answer
      E Operating Loss Correct Answer Incorrect Answer

      Solution

      Abnormal Loss refers to the loss caused by carelessness and inefficiencies or unexpected or abnormal conditions such as accident, theft, machine breakdown, fire, flood, earthquake, etc.

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