Home › CBSE Class 11 (Commerce) › Accountancy › Introduction to Accounting › Unsold goods lying with a trader at the end of t…
Unsold goods lying with a trader at the end of the period are called
AOpening stock
BDebtors
CClosing stock
DDrawings
Answer & Solution
Correct answer: C. Closing stock
Stock on hand at the end of an accounting period is closing stock, or ending inventory.
Related questions
A trader sells stationery worth Rs 1,00,000 on credit to Mr. Ravi. Mr. Ravi is aMr. Sunrise starts with Rs 5,00,000, buys stationery worth Rs 1,50,000 from Mr. Peace on cSundry creditors are shown in the balance sheet on thePersons who owe the firm money for goods bought on credit areClosing stock of a manufacturing company comprises raw materials, finished goods andTotal goods procured for use or sale, on cash and credit, are calledWithdrawal of cash or goods by the owner for personal use isChairs and tables are goods for a furniture dealer but for others they are