Multiple Choice
Which of the following is/are true regarding inventory?
A) Inventory refers to goods and other items that a firm owns and holds for sale or for further processing as part of its operations.
B) Inventory is called "stock" in some countries.
C) When the firm sells inventory, the carrying amount of that inventory becomes an expense.
D) Inventories are a major asset for merchandising and manufacturing firms.
E) all of the above
Correct Answer:
Verified
Correct Answer:
Verified
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