Trading stock is regarded as a revenue asset. Rev Cars, a motor dealer purchases a motor vehicle in November $2019$ for R$560000($net of VAT$)$ and sells it in March $2020$ for R$640000($net of VAT$).$ Required: $3\mathrm{.}13\mathrm{.}2$ Show the effect of the transaction above for Rev Cars Discuss the differences between closing and opening stock as per Section $22$ of the Income Tax Act