Question on: JAMB Commerce - 2024
Closing stock is also known as
A
stock at close
B
balance brought forward
C
opening inventory
D
stock at beginning
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Correct Option: A
Closing stock represents the value of unsold goods at the end of an accounting period:
- Stock at close: Accurately describes the inventory remaining at the end of the period.
- Balance brought forward: Refers to the beginning balance of the next accounting period.
- Opening inventory: Stock at the beginning of the accounting period.
- Stock at beginning: Another term for opening inventory.
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