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Question Practice

What happens if closing stock is omitted from the financial statements?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 11
Accountancy
Accountancy - II
Financial Statements - II
Question Bank

What happens if closing stock ...

Single Answer MCQ
Q-00053570

What happens if closing stock is omitted from the financial statements?

1

Net profit is overstated

2

Total assets are understated

3

Only expenses are affected

4

Current liabilities increase

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