which account is prepare to find out the amount of closing stock
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Trading account
Trading account is prepared to find out the direct profit on the product sold. This includes the sales and closing stock as credit item and purchases and direct expenses as debit item. The result of trading account shows gross profit or loss.
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Answer:
Trading account
Trading account is prepared to find out the direct profit on the product sold. This includes the sales and closing stock as credit item and purchases and direct expenses as debit item. The result of trading account shows gross profit or loss.
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