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Question
Closing stock appearing in the Trial Balance will be taken to __________.
Closing stock appearing in the Trial Balance will be taken to __________.
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Solution
The correct option is B Balance sheet only
Closing stock is that goods which is unsold stock at the end of the year. Normally closing stock appears out of the trial balance. If an adjustment entry is already passed at the end of accounting year, the value of closing stock will appear in trial balance. If closing stock appearing in trial balance, this will be taken to balance sheet only as adjustment entry is already passed.
Closing stock is that goods which is unsold stock at the end of the year. Normally closing stock appears out of the trial balance.
If an adjustment entry is already passed at the end of accounting year, the value of closing stock will appear in trial balance.
If closing stock appearing in trial balance, this will be taken to balance sheet only as adjustment entry is already passed.
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