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when is the closing stock shown in the trial balance?
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Answer Posted / ratnesh shukla
Closing stock play a very vital role in preparation of
financial statement .i.e.trading profit and loss account.
without C.S.we cannot find the exect position of financial
statement i.e.gross profit and gross profit is transfered
to P & L account for Net Profit.
and also without C.S.we cannot find the finalcial ratio
i.e.average stock,and closing stock to turnover ratio and
all that.
| Is This Answer Correct ? | 1 Yes | 6 No |
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