Answer / jayashree deshpande

Finalisation of Accounts refers to closing the books of
accounts for the particular period of time. This includes
verification of account balances, Passing adjustment
journal entries , preparing trail balance, preparing Profit
& Loss Account and balance-sheet for the same period, etc.
This helps to give a clear picture of the financial
performance of the organisation during the year and to give
the financial position of the orgnisation at the end of the
year.

Under which category in the balace sheet will closing stock appear

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