Which Statement Relating to Inventory Is Not Correct

question 19

Multiple Choice

Which statement relating to inventory is not correct?

• A) Another name for inventory is stock-in-trade.
• B) It makes up a significant portion of a retailer's assets.
• C) It is a very active asset, continually being acquired, sold and replaced.
• D) It is classified as a non-current asset in the balance sheet.

Understand the principles of market equilibrium, including how shifts in supply and demand affect equilibrium prices and quantities.

Analyze the relationship between substitutes and complements in determining market outcomes.

Interpret the impact of external factors such as weather, income changes, and government interventions on market equilibrium.

Predict the effects of supply and demand shifts on the equilibrium price and quantity in graphical representations.

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Definitions:

Intelligence Quotient

A measure of a person's intellectual abilities relative to others, based on standardized tests.

Mental Age

A measure of an individual's cognitive ability expressed in terms of the age at which an average individual reaches the same ability.

IQ

Short for Intelligence Quotient, a numerical score derived from standardized assessments designed to measure human intelligence and cognitive abilities.

Individual Differences

Refer to the variations or disparities among individuals in regard to their behaviors, emotions, cognition, and development.