Loss
The excess of expenses of a period over its related revenues its termed as loss.
It decreases in owner’s equity.
It also refers to money or money’s worth lost (or cost incurred) without receiving any benefit in return, e.g., cash or goods lost by theft or a fire accident, etc.
It also includes a loss on sale of fixed assets.
Tag:11accounts, 11commerce, 11economics, 11thcommerce, 12accounts, 12commerce, 12economics, 12thCommerce, BComAccounts, BESTCOMMERCEANDACCOUNTANCYPLATFORM, CAFinalAccounts, CAfoundation, CAfoundationAccounts, CAfoundationEconomics, CAfoundationLaw, CAHARSHITA, CAInterAccounts, commerceachiever, commerceoptional, Economics, economicsclass12, Equity Theory, gLOSSARY OF hrm, GST, HR Glossary, Human Resource Accounting, incometax, Loss, mba hr, mba hr notes, MComAccounts, NCERT, ncertcommerce, tax, UGCNETCommerceOptional, UPSC COMMERCE OPTIONAL BOOKS, UPSC Commerce Optional Material, UPSC COMMERCE OPTIONAL PDF, UPSC Commerce OPtional Previous Year Paper Solution, UPSC Commerce Optional Previous Year Papers, UPSCcommerceOptional, UPSCoptional
You may also like
