Question

The term inventories is best described as:__________.
a) goods that have been produced but remain unsold,
b) a consortium of inventors where new products are tested,
c) a statistical method used to forecast business sales,
d) computer models to keep track of shipments,
e) items returned by customers and resold at a discount.

Answer 1

Answer:

a) goods that have been produced but remain unsold

Explanation:

Inventory includes work on progress, finished goods and raw materials. Inventory are classified as current assets on a balance sheet.

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