Which one of the following is INCORRECT about closing stock?
A. It is added into current assets
B. It is deducted from Material available for use
C. It becomes opening stock of next year
D. It reduces the resources of business
Answer: Option D
Solution (By Examveda Team)
Closing stock does not reduce the resources of business. Closing stock is the amount of inventory that a business still has on hand at the end of a reporting period.This Question Belongs to Commerce >> Accounting
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