Peggy Owens Owns a Store That Sells Exercise Equipment

Multiple Choice

Peggy Owens owns a store that sells exercise equipment. Each January 1, she makes a very accurate account of all her merchandise and products waiting to be sold that are in her store. On January 1, Peggy is taking account of her store's ________.

A) long-term assets
B) owners' equity
C) accounts payable
D) accounts receivable
E) inventory