Shortfall against minimum production contract
This query is : Resolved
03 June 2019
Minimum Production Contract was signed and agreed for 275 tons yearly but as at 31st March a shortfall was observed as of 29 tons value of which arrives as at Rs 59,40,055. It is one kind of loss for our company. Can such a loss be reflected under the head of indirect expenses ? or should be shown under the head of direct expenses ?
04 June 2019
Such loss is not an expense it's only reduction in earnings so account for actual income.
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