If closing stock appears in the trial balance, it should be
A. Credited to the trading account
B. Credited to the profit and loss account
C. Deducted from the purchases in the trading account
D. Shown on the liability side of the Balance sheet
Answer:C
If closing stock appears in the trial balance, it should be
A. Credited to the trading account B. Credited to the profit and loss account C. Deducted from the purchases in the trading account D. Shown on the liability side of the Balance sheet