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Which statement best explains Closing stock?

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Question ID #25908 UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Accounting Principles Sectional Test 2026 Medium

Which statement best explains Closing stock?

Correct Answer: A. Inventory remaining unsold at the end of an accounting period
Closing stock: Inventory remaining unsold at the end of an accounting period

Question: Which statement best explains Closing stock?

A. Inventory remaining unsold at the end of an accounting period

B. Receivable considered irrecoverable

C. Assets = Liabilities + Equity

D. Expenditure creating or improving a long-term asset or benefit

Correct Answer: A. Inventory remaining unsold at the end of an accounting periodClosing stock: Inventory remaining unsold at the end of an accounting period

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Which statement best explains Closing stock? - MCQ Explanation

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Correct answer: A. Inventory remaining unsold at the end of an accounting period