To What Does the Term Inventory Refer

question 106

Multiple Choice

To what does the term inventory refer?

• A)It refers to the amount of goods being stored.
• B)It refers to minimizing storage costs.
• C)It refers to the amount of goods being sold.
• D)It refers to the marketing function of holding goods.
• E)It refers to the quality of goods being stored.

---

Definitions:

Federal Income Tax

A tax levied by the Internal Revenue Service on the annual earnings of individuals, corporations, trusts, and other legal entities.

Withholding Allowance

A predetermined amount of pre-tax income exempt from federal income taxes, directly affecting the amount of tax withheld from an employee's paycheck.

Withholding Allowances

Designations that individuals can claim to reduce the amount of their income that is withheld for tax purposes, affecting the size of their paychecks and yearly tax liabilities.

Form W-4

A tax form used by employees to tell employers how much tax to withhold from their paycheck.