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    Question

    Abnormal Gain is shown on the …….side of the Process A/c and the ………… side of Abnormal Gain A/c

    A Credit, debit Correct Answer Incorrect Answer
    B Debit, credit Correct Answer Incorrect Answer
    C Debit, debit Correct Answer Incorrect Answer
    D Credit, credit Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Abnormal Gain                                           i.    If Actual Loss < Normal Loss : the difference is abnormal gain                                          ii.    Abnormal Gain is shown on the debit side of the Process A/c and the credit side of Abnormal Gain A/c                                         iii.    Transferred to Costing Profit & Loss A/c

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