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Which of the following is not found in a trial balance?

Accounts - Principles of Accounts
WAEC 2010

Which of the following is not found in a trial balance?

  • A. opening stock
  • B. closing stock
  • C. capital
  • D. rent paid
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Correct Answer: Option B
Explanation

Closing stock is the leftover balance out of goods which were purchased during an accounting period. Total purchases are already included in the trial balance, Hence closing stock should not be included in the trial balance again. If it is included, the effect will be doubled.

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