Which of the following are affected if the closing stock is given in adjustments?

Profit & loss account & balance sheet

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Trading account & Balance Sheet

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Cash Flow Statement & Balance Sheet

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Balance sheet only

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Solution

The correct option is B
Trading account & Balance Sheet

Trading account & Balance sheet are affected by closing stock given in adjustments.

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Similar questions

If 'adjusted purchases' and 'closing stock' are given in the trial balance, will you transfer 'closing stock' to trading account? Give reason.

What is the correct accounting treatment, if the closing stock of Rs 20,000 is given as adjustment?

=

11, 000

= 1 / 10^{t h}

1, 00, 000

When will adjustment of closing stock be required to be done?

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