At the end of the financial year after sale of goods worth Rs 2 00 000 there was a closing stock of ...........

Accountancy (Phase -I & II) Introduction to Accounting

At the end of the financial year after sale of goods worth Rs. 2,00,000 there was a closing stock of Rs. 10,000. This is

An event

A transaction

both event as well as transaction

none of these

Unsold items i.e Closing stock is captured in the financial statements as 'Current Assets'.

An event can be internal or external. This is an internal event.

There is no exchange of goods or services or money. Hence, it cannot be termed as a 'transaction'.

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