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Stock In Relation To Trading

Stock is a quantity of physical material waiting to be sold. When goods are bought they are entered in the Purchases Account at cost price; when they are sold these same goods appear in the Sales...

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The Columnar System Of Bookkeeping

A trader may be satisfied with the information provided by his accounts that the year’s trading has yielded certain sums of gross profit and net profit. Other traders whose businesses are of a...

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