Which Types of Inventories Does a Manufacturing Business Report on the Balance

question 149

Multiple Choice

Which types of inventories does a manufacturing business report on the balance sheet?

• A) finished goods inventory and work in process inventory only
• B) direct materials inventory and work in process inventory only
• C) direct materials inventory, work in process inventory, and finished goods inventory
• D) direct materials inventory and finished goods inventory only

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Definitions:

Upper Middle-Income

A classification of economies with gross national income per capita between the limits set by the World Bank or other defining bodies, indicating a relatively higher but not the highest income level.

Low-Income

Refers to individuals or families whose earning is below a certain threshold defined by national statistics, often leading to reduced access to goods and services.

Infant Mortality Rate

The number of deaths of infants under one year old per 1,000 live births in a given year.

Labor Force

The total number of people employed and unemployed, actively seeking work in an economy.