The Loss from Abnormal Spoilage Account Would Appear ________

question 88

Multiple Choice

The loss from abnormal spoilage account would appear ________.

• A) on a balance sheet
• B) as a detailed item in the retained earnings schedule of a balance sheet
• C) a separate line item on an income statement
• D) a deduction from the cost of goods sold

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Definitions:

Administrative Expenses

Costs related to the general operation of a business, including salaries of administrative personnel, office supplies, and other non-production-related expenses.

Cash Receipts

The collection of money, including coins, notes, checks, and electronic transfers, by a business from its customers or other sources.

Cash Available

Refers to funds that a company or individual can immediately use or access for payments, investments, or other financial needs.

Disbursements

Payments made by a business, often involving cash outflows for operating expenses, acquisitions, or investments.