Answer Posted / v.sreenivasulu

Trading account - containing of purchases, sales, stock
(opening + closing).

Main Principle :-

opening stock + purchases = sales + closing stock

if u not record closing stock on CR side of Trading A/C,
the effect is that whatever O/Stock and purchases are
converted into Sales.

Sales is an Revenue for the organisation - where as Closing
stock will be an Closing asset.

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