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Stock Adjustments

In which of t...

Question

In which of the following closing stock does not appears?

A

Trading Account

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B

Trial balance

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C

Balance sheet

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D

All of the above

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Solution

The correct option is B Trial balance
Closing stock does not appear in the trial balance. It is shown out of the trial balance and at the time of preparing the final accounts, it has to be shown in the credit side of the trading account and also to be shown in the balance sheet as current assets.

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