Inventory Consists Of

question 10

Multiple Choice

Inventory consists of:

• A)finished goods.
• B)raw material and finished goods.
• C)raw material, work in process, and prepaid rent.
• D)raw material, work in process, and finished goods.

---

Definitions:

Absolute Liability

A legal doctrine holding a person or entity responsible for damages or loss regardless of fault or intent.

Motel

A roadside hotel designed primarily for motorists, typically having the rooms arranged in a low building with parking directly outside.

Lightning

A natural phenomenon involving a sudden electrostatic discharge during a storm, resulting in a bright flash and typically thunder.

Liable

Legally responsible or obligated to compensate for harm or damages caused.