Products That Have Been Completed and Are Ready to Be

question 9

Multiple Choice

Products that have been completed and are ready to be sold by the manufacturer are called:

• A)Finished goods inventory.
• B)Work in process inventory.
• C)Raw materials inventory.
• D)Cost of goods sold.
• E)Factory supplies.

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Definitions:

Manufacturing Jobs

Positions in the production of goods within an industrial setting, often involving machinery and labor.

Foreign Trade

The exchange of goods, services, and capital between countries or territories, involving imports and exports.

Comparative Advantage

The capacity for a person, business, or nation to generate a product or service with a smaller opportunity cost compared to its rivals.

Competition

Rivalry among business firms for resources and customers.