Which accounting concept specifies the practice of crediting closing stock to the trading account?

Related MCQs

• ____________ account is prepared to adjust the loads included in the value of opening stock and closing stock.
• Goods are sent to branch at cost plus 20%. If closing stock of the branch is Rs 60,000 at invoice price, Rs ______ will be credited to stock reserve a/c.
• Branch Trading &Profit & Loss A/c is only a _________ account not forming part of the full accounting system.
• Trading account is a
• In final account system, Branch Trading and Profit & Loss A/c is prepared at ________
• Valuation of stock in accounting follows the principle of cost price or ____ whichever is lower.
• ____________ account shows the shortage or surplus of stock.
• The profit included in surplus or shortage of stock is transferred to ______ account
• The Branch Account prepared under Final Account System is the nature of:
• The balance of branch adjustment account is transferred to _________ account