Question

expain the terms of accunting
a) closing stock
b) deffered revenue expenditure

Answer 1

Answer:

Closing Stock is an amount of unsold stock lying in your business on a given date. In simple words, it's the inventory which is still in your business waiting to be sold for a given period. The closing stock can be in various forms such as raw materials, in-process goods (WIP) or finished goods.

In business, Deferred Revenue Expenditure is an expense which is incurred while accounting period. ... For example, revenue used for advertisement is deferred revenue expenditure because it will keep showing its benefits over the period of two to three years.

Answer 2

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