Question

Select the most appropriate alternatives from those given below

Opening Stock is entered in a Trading A/c on the ___________ side.
a) credit
b) debit
c) Assets
d) Liabilities.

Answer 1

Opening stock is entered in a Trading A/c on the debit side.

Explanation:
Opening stock means the stock of goods that remained unsold at the end of last year. It is recorded on the debit side of the Trading Account, whereas closing stock is recorded on the credit side of the Trading Account.