Disadvantages of Owning Diamonds Include All of the Following EXCEPT

question 25

Multiple Choice

Disadvantages of owning diamonds include all of the following EXCEPT:

• A)they are very expensive to store and insure.
• B)there are usually high dealer mark ups.
• C)they are lightweight and easily transported.
• D)there is a lack of liquidity.

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Definitions:

Merchandise Sold

This term refers to products that have been sold and are in the process of being delivered to the customer, usually recognized as revenue in retail or wholesale businesses.

Inventory Control

A system used by a business to manage its inventory effectively, ensuring there are adequate supplies without overstocking.

Receiving Report

A document that records the details of goods received by a company, including date received, quantity, and condition.

Initial Record

Initial record refers to the first entry or recording of a financial transaction or event in the accounting system.