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Closing stock in the Trial Balance implies that______________?
Accountingmedium
AIt is already adjusted in the opening stock
It is adjusted in the Purchase A/c
CIt is adjusted in the Cost of Sale A/c
DIt is adjusted in the Profit &Loss A/c Closing Stock appearing in the Trial Balance implies that it has already been adjusted in the Purchases Account and hence appears as an asset in the Balance Sheet.
Correct Answer: B. It is adjusted in the Purchase A/c
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