Sheenlac Paints Executive Accountant Interview Questions and Answers

Stock in trial balance should be treated as an asset and included in the balance sheet under current assets.

• Stock in trial balance represents the value of inventory held by the company at a specific point in time.

• It should be classified as a current asset on the balance sheet.

• The value of stock should be determined based on the lower of cost or market value principle.

• Any adjustments to the stock value should be recorde...read more

Stock in balance sheet refers to the value of inventory held by a company at a specific point in time.

• Stock in balance sheet is reported as a current asset on the balance sheet.

• It represents the cost of inventory that has not yet been sold.

• The value of stock in balance sheet is determined by the lower of cost or market value.

• Stock in balance sheet is important for assessing a company's liquidity and financial health.

• Ex...read more