Which of the Following Is the Best Definition of Inventory

question 81

Multiple Choice

Which of the following is the best definition of inventory management?

• A) planning and control of the flow inventory into and through an organization
• B) planning, coordinating, and controlling activities related to the flow of inventory into, through, and out of an organization
• C) planning and coordinating activities related to the flow of inventory into and through an organization
• D) planning, coordinating, and control of inventory into an organization

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Definitions:

Non-Current

Refers to assets or liabilities expected to be settled, realized, or fully appreciated over a period longer than the company's next fiscal year.

Operating Cycle

The average time period between purchasing or acquiring inventory and receiving cash from the sale of goods or services.

Balance Date

The specific date at which the financial position of a company is measured and reported, usually marking the end of the fiscal or reporting period.

Comprehensive Income

The total change in equity for a reporting period other than from transactions with owners as owners, including both net income and other comprehensive income.