On March 31, 2011 after sale of goods worth Rs. 2,000, he is left with the closing inventory of  Rs. 10,000. This is
  • a)
    An event
  • b)
    A transaction.
  • c)
    A transaction as well as an event.
  • d)
    Neither a transaction nor an event
Correct answer is option 'A'. Can you explain this answer?

CA Foundation Question

Rashmi Chaurasia
Dec 16, 2018
We can say that a event is result after the transaction. So value of closing inventory is result after the transaction so we can say that it is "an event" .

mr_ krish
Mar 18, 2019
Look if we sale the goods and the they mentioned only that sale of goods worth 2000/ but here in this case we are calculate the closing stock also and when we will calculate closing stock? at the time of closing all the ledgers or preparing balancesheet this will be done once in a year so due to this it is called as event

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