Merchandise Which Is Not Sold at the End of the Year

question 40

Multiple Choice

Merchandise which is not sold at the end of the year is reported on the balance sheet as _____.

• A) accounts receivable
• B) capital stock
• C) inventory
• D) operating income

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Definitions:

Bank Credit Cards

Financial instruments issued by banks that allow holders to borrow funds up to a predetermined limit for purchases or cash withdrawals.

Durable Goods

Goods that are designed to last and be used over a long period, such as vehicles, appliances, and furniture.

Nondurable Goods

Goods that are consumed or are only usable for a short period of time before they are depleted or become useless.

Consumer Spending

The total amount of money spent by individuals and households on goods and services for personal use, a key driver of economic activity.