Question

Stock in hand at the end of the accounting year. Answer in a word / phrase / term.

Answer 1

Hey mate✌️✌️


Stock in hand at the end of the accounting year⤵️⤵️⤵️⤵️⤵️


Closing Stock.

Answer 2

Stock in hand at the end of an accounting year is known as closing stock.

• Closing stock is the amount of inventory at the end of a reporting period that a company still has on hand.
• Closing stock includes inventory of raw materials, processing and finished goods. The quantity of the closing stock can be determined using a physical inventory count.
• The closing stock includes stocks at year-end. Thus, we maintain a real account by the name of Closing Stock to derive information about the closing stock. At the end of the accounting period, it provides data on the value of the stock unsold.