Briefly Explain the Term Soft Rationing

question 11

Essay

Briefly explain the term soft rationing.

---

Definitions:

Inventory

The entirety of goods and materials held by a company for the purpose of resale, manufacturing, or repair.

Income Statement

a financial report that provides a summary of a company’s revenues, expenses, and profits/losses over a specific period of time.

Wages Payable

An account that reflects the total amount owed to employees for work performed that has not yet been paid.