The Three Major Manufacturing Inventories Do NOT Include Which of the Following

question 59

Multiple Choice

The three major manufacturing inventories do NOT include which of the following?

• A) Supplies
• B) Work-in-process
• C) Raw materials
• D) Finished goods

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Definitions:

Common Stock

Shares of ownership in a corporation that entitle the shareholder to vote on corporate matters and receive dividends.

Net Assets

The total assets of a company minus its total liabilities, indicating the company's underlying value.

Retained Earnings

The portion of a company's profits not distributed to shareholders as dividends but retained for reinvestment in the business or to pay off debt.

Amortized Cost Basis

An accounting method that gradually writes off the initial cost of an asset over a period, which reflects its consumption or use over time.