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- Excess of expenses over revenuesA loss in accounting is an excess of expenses over revenues, or an unrecoverable and unanticipated decrease in a resource or asset12. A loss can occur for a single business transaction or for an accounting period. A loss can result from various causes, such as selling an asset below its carrying amount, facing a lawsuit, or writing down an asset2.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.A loss is an excess of expenses over revenues, either for a single business transaction or in reference to the sum of all transactions for an accounting period.www.accountingtools.com/articles/lossIn accounting, a loss is an unrecoverable and unanticipated decrease in a resource or asset outside of normal business operations. Various businesses experience losses in different forms. They may be the result of a sale of an asset below its carrying amount, from a lawsuit, or a write-down of an asset.www.invoiceberry.com/accounting-terms/loss
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