JAMB Accounting 2025 Objective — Question 21

Question 21 of 41 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2025 Objective paper, with the correct answer and a full explanation.

In order to find out the value of the closing stock at the end of the financial year, we

A. do this by stocktakingCorrect
B. deduct the cost of goods sold from sales
C. deduct opening stock from the cost of goods sold
D. look in the stock account

Explanation

Stocktaking is used to calculate the remaining stock at the end of a particular period.

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