Question

Under which of the following heads the Stock-in-trade is shown?​

Answer 1

Answer:

a) SHARE CAPITAL COMES UNDER SHAREHOLDERS FUNDS (LIABILITY SIDE)

b) DEBENTURES COMES UNDER LONG TERM BORROWINGS (LIABILITY SIDE)

c) TRADE PAYABLE COMES UNDER CURRENT LIABILITY (LIABILITY SIDE)

d) FURNITURE COMES UNDER TANGIBLE ASSETS IN FIXED ASSETS ASSETS SIDE)

e) INVENTORY ( NON-QUICK ASSETS) COMES UNDER CURRENT ASSETS (ASSETS SIDE