A memorandum trading account is to be prepared to ascertained the value of stock on the date of fire.

Name: A memorandum trading account is to be prepared to ascertained the value of stock on the date of fire.
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Question

Quizplus · Accepted Answer

A memorandum trading account is indeed prepared to ascertain the value of stock on the date of fire, as it helps in estimating the value of goods lost by fire by considering the purchases and sales up to the date of the incident.

A Memorandum Trading Account Is to Be Prepared to Ascertained