👉 Spillage, in accounting, refers to a loss or reduction of assets due to an event that is beyond the control of the company. This can happen when goods are lost during transportation, theft, or damage during storage. Spilled assets can be costly and time-consuming to recover, as well as potentially have a negative impact on the overall financial health of the company.
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What is the definition of Spillages? 🙋
👉 Spillages are occurrences or events where a substance, such as water, is released from an area into other areas. Spills can be caused by various factors such as negligence, improper handling, environmental hazards, or natural disasters. Spills can have significant impacts on the environment and human health, so it's important to take steps to prevent them.
