Question

Q 95 When at the end of year the entry "
Closing stock A/c debit with 65000 and
Purchases A/c credit with 65000" is
made in the books then closing stock will
be shown
Ops: A.
Both in trading account and
balance sheet
B.
In trading account only
C.
In balance sheet only
D.
In footnote with balance sheet​

Answer 1

Answer:

In balance sheet only because closing stock is adjusted against purchase