Assertion (A): In preparing final accounts, if closing stock is given in the trial balance, it is shown only in the Balance Sheet.
Reason (R): Any item appearing in the trial balance is treated only at one place i.e. either in the trading and profit & loss a/c or in the balance sheet.
Now, select the correct answer:

Assertion (A): In preparing final accounts, if closing stock is given in the trial balance, it is shown only in the Balance Sheet.
Reason (R): Any item appearing in the trial balance is treated only at one place i.e. either in the trading and profit & loss a/c or in the balance sheet.
Now, select the correct answer: Correct Answer Both (A) and (R) are true and (R) is the correct explanation of (A)

Bissoy MCQ

Related Questions

Consider the 5 × 5 matrix \[{\text{A}} = \left[ {\begin{array}{*{20}{c}} 1&2&3&4&5 \\ 5&1&2&3&4 \\ 4&5&1&2&3 \\ 3&4&5&1&2 \\ 2&3&4&5&1 \end{array}} \right
Let A be an m × n matrix and Ban n × m matrix. It is given that determinant ($$I$$m + AB) = determinant ($$I$$n + BA), where $$I$$k is the k × k identity matrix. Using the above property, the determinant of the matrix given below is
\[\left[ {\begin{array}{*{20}{c}} 2&1&1&1 \\ 1&2&1&1 \\ 1&1&2&1 \\ 1&1&1&2 \end{array}} \right
Eigen values of the matrix \[\left[ {\begin{array}{*{20}{c}} 0&1&0&0 \\ 1&0&0&0 \\ 0&0&0&{ - 2i} \\ 0&0&{2i}&0 \end{array}} \right
The final accounts of a manufacturing company generally include the following statements. Select the correct sequence in the which the statements are prepared
i. Balance sheet
ii. Manufacturing account
iii. Profit and loss account
iv. Trading account
v. Profit and loss appropriation account
Under the member constituent agreement, trading members are required to make the clients aware of which of the following?
1. Trading segment in which the trading member is admitted.
2. SEBI registration number.
3. Basic risks involved in trading on the exchange.
Select the correct answer
X sells an item to Y at a profit of 28% on his cost and Y sells the same item to Z at a loss of 25% on his cost. If X thus sold the item to Z a Tk. 2 less than the item to X, then what is the cost of the item to X?
X sells an item to Y at a profit of 28% on his cost and sells the same item to Z at a loss of 25% on his cost. If Y thus sold the item to Z a Tk. 2 less than the item to X, then what is the cost of the item to X?
Closing stock appearing in the Trial Balance is shown in:
Direction-The question have two statements.
One is labelled as Assertion (A) and the other as Reason (R). You have to examine both the statements carefully and decide whether Assertion (A) and Reason (R) separately are true and if so then reason is the correct explanation of the assertion. Mark these items on the answer sheet.
Assertion (A): Interest payable on working capital should be treated as an item of operating expenses.
Reason (R): Interest is the cost of capital used in the business.
Consider an enclosure formed by three surfaces having the following values of shape factors, emissivities and temperatures Surface 1 i.e. curved cylindrical has an emissivity 0.75 and temperature 800 K Surface 2 i.e. closing disc has an emissivity 0.8 and temperature 700 K Surface 3 i.e. closing disc has an emissivity 0.8 and temperature 700 K The closing flat discs are 25 mm in diameter and they have interspacing distance equal to 100 mm. If the shape factor between these two identical discs is 0.05, calculate the net rate of radiant heat flow from the curve surface to each of the closing end surface