Inventory for a Merchandising Business Is Classified as A(n)

question 88

Multiple Choice

Inventory for a merchandising business is classified as a(n) :

• A) liability.
• B) revenue.
• C) part of shareholder's equity.
• D) asset.
• E) expense.

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Definitions:

Adulterated

Refers to food or products that have been made impure or inferior by adding harmful or prohibited substances.

Resource Conservation and Recovery Act

A federal law established in the United States that provides a framework for the proper management of hazardous and non-hazardous solid waste.

Hazardous Waste

Waste material that is dangerous or potentially harmful to human health or the environment.

Herbicide

A chemical substance used to control or kill unwanted plants or weeds.