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Does an overstatement of closing stock affect the agreement of the trial balance?

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Question added by Big Chief
Date Posted: 2018/03/24
Gaurav Khiwasara
by Gaurav Khiwasara , Chartered Accountant , H.N. Jain & Co., Chartered Accountants

Obviously No.

But it will affect your Financial statements.

Overstating your Closing Stock will affect the cost of Consumption & Cost of Goods sold.

 

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