Question

7. Closing stock is value of
a) Cost price
b) Market price
c) Sales price d) Cost price or Market price whichever is lower
8. State any one adiustment​

Answer 1

Answer:

closing stock is value of market price

Answer 2

The correct option is d) Cost price or Market price whichever is lower

• The total commodity amount left at the conclusion of the accounting year is referred to as closing stock.
• When valuing the shares closure both the market price and the cost price are taken into consideration.
• The cost price represents value at which commodities were originally acquired, whereas market price is current value effective in market. Every company evaluates the two prices and values the closing stock at the lowest of the two.