Cash system of accountin
This query is : Resolved
Guest
Guest
(Querist)
04 April 2012
Dear Sir,
If an assessee follows cash system of accounting, whether he is required to take closing stock in Profit & Loss Account.
If an assessee follows cash system of accounting, whether he is required to take closing stock in Profit & Loss Account.
04 April 2012
Yes closing stock has to be shown becuase it is an asset.
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