Inventory Is Defined as Goods Held for Resale in the Ordinary

question 35

Multiple Choice

Inventory is defined as goods held for resale in the ordinary course of business.Which of the following would not be included in inventory for any type of business?

• A)Land held for resale
• B)Cash at bank
• C)Work in process
• D)Computers

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Definitions:

Economic Security

A condition in which individuals or communities have the assurance that their basic economic needs, such as food, shelter, and income, will be met.

Social Security

A government program designed to provide financial assistance to people who are retired, unemployed, or disabled.

Harvest Gypsies

A term historically used to describe itinerant agricultural workers, particularly those who moved from farm to farm during the harvest seasons.

Migrant Farm Workers

Individuals who travel from one location to another, often seasonally, to work in agriculture, usually under temporary contracts and often facing challenging conditions.