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WAEC Financial Accounting 2004 Question 8

Question 8

Trial Balance

Which of the following items is not shown in the Trial Balance?

  1. A.Closing stock value
  2. B.Opening stock balance
  3. C.Opening debtors balance
  4. D.Closing asset value
Show the answer and explanation

Answer: A (Closing stock value)

Explanation

Closing stock is found after the trial balance and is normally given as a note, not in it.