____________ account shows the shortage or surplus of stock.

Related MCQs

• The profit included in surplus or shortage of stock is transferred to ______ account
• ____________ 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.
• Which accounting concept specifies the practice of crediting closing stock to the trading account?
• The Branch Account prepared under Final Account System is the nature of:
• The balance of branch adjustment account is transferred to _________ account
• When shares are forfeited, the share capital account is debited with ________ and the share forfeiture account is credited with __________.
• Valuation of stock in accounting follows the principle of cost price or ____ whichever is lower.
• Under the stock and debtor system, Branch A/c is treated as ______
• Stock and debtors system is generally used when goods are sent to the branch at _____