Why we show always closing stock in credit?
Answer Posted / narayan bhusal
Matching Concept
(expense must be related to revenue)
according to matching concept we put the closing stock on
credit side of trading a/c.
only those
expenses which are related to earn the revenue are debited so that we can arrive at accurate profit/loss &
closing stock which is not utilized yet to earn revenue but
we use in future.so,put on credit side
Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
What is definition of a cash float in accounting?
is WCT aplicable on educational institutions also??????
what is your opinion regarding T.V shows on youth
Sir how the enter of GST adjust of sales return
Mention what are things will not be included in a bank reconciliation statement?
What is the provision? What is the entry for provision?
What is the depreciation rates for all the assets?like plant & Machinery,computers,software,land & buildings
Do you possess any knowledge about accounting standards?
How to post advance paid to a supplier in oracle jd edwards
hi, this is shanthi kumar(M.Com). i would like to attend interview in genpact company.please send finance interview questions and interview details. thank u very much
A motor car purchased on 1 apr 10 worth rs 10000 taking a loan from bank of rs 8000. Emi will b 500 pm inclusive of interest rs 100 pm.all repayments are done by bank overdraft. Prepase bshEet & P&L as at 31 mar 10
Tell me how much statistics knowledge is necessary or required in accounting?
Tell me what does the investment of personal assets by the owner will do?
describe the rule of garner vs murray and how it relates to the dissolution of a partnership
journal entry for goods withdrawn for personal use