Challenger App

No.1 PSC Learning App

1M+ Downloads
Closing stock:

AExpense

BAssets

CIncome

DNone of these

Answer:

B. Assets

Read Explanation:

Closing stock is unsold inventory at the end of accounting period, considered an asset.


Related Questions:

Ascertaining the difference between the totals of the debit side and credit side of an account is called
Reserve fund invested in financing bank is a
The balance of the cash flow statement is the increase or decrease of:
The method which provides a ready means to traders of some standing to raise money on the credit of one another is by
Cost of things and services used for earning revenue