Which of the Following Statements About Inventory Classifications Is Not

question 137

Multiple Choice

Which of the following statements about inventory classifications is not correct?

• A)Inventory may include materials used in producing goods for sale.
• B)Manufacturers hold three types of inventory that are referred to as raw materials inventory,work in process inventory,and finished goods inventory.
• C)Inventory is classified as a long-term asset on the balance sheet.
• D)Merchandisers buy inventory in finished form ready for resale.

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Definitions:

Dirtiest Fossil Fuel

Coal, regarded as the most harmful to the environment due to its high carbon dioxide emissions when burned, contributing significantly to air pollution and climate change.

Deep Disposal

The process of disposing waste materials deep underground in specially engineered facilities to prevent contamination of the surface environment or water supplies.

Nuclear Reactors

Devices used to initiate and control a sustained nuclear chain reaction, primarily for the generation of electricity or for the production of nuclear materials for medical or military use.

Coal Reserves

Quantities of discoverable coal resources that can be economically and legally extracted at current prices.