What Is Part of the Inventory Procedure

question 12

Multiple Choice

What is part of the inventory procedure?

• A) Using the supply inventory form, identify how the supply should be counted.
• B) Compare the reorder point number to the stock available number.
• C) Count the number of items in stock.
• D) All of the above

---

Definitions:

Retained Earnings

The portion of net income left over for a business after it has paid out dividends to its shareholders.

Acquisition Value

Acquisition Value is the total cost incurred to acquire an asset, including the purchase price and all related expenses.

Acquired Net Assets

The total assets purchased from a company during an acquisition minus the liabilities assumed in the process.

Equipment Account

An account on the balance sheet where the cost of purchasing equipment is recorded and progressively depreciated over time.