Q. Closing stock in the Trial Balance implies that______________?
a. It is already adjusted in the opening stock
b. It is adjusted in the Purchase A/c
c. It is adjusted in the Cost of Sale A/c
d. It 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.
