The balance of which of the following accounts do not disappear, once they are debited/credited to Trading Account.
A)Sales
B)Purchases
C)Inward returns
D)Closing stock

Question

Quizplus · Accepted Answer

The balance of the Closing stock account does not disappear once it is debited/credited to the Trading Account because it is transferred to the Balance Sheet as an asset for the next accounting period.

The Balance of Which of the Following Accounts Do Not