Which of the Following Accounts Would NOT Be Included in the Current

question 114

Multiple Choice

Which of the following accounts would NOT be included in the current asset section of a manufacturer's balance sheet?

• A) Work in process inventory
• B) Merchandise inventory
• C) Finished goods inventory
• D) Direct materials inventory

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Definitions:

Initial Offering

The first sale or issuance of stock by a company to the public, typically referred to as an Initial Public Offering (IPO), marking a company's transition from private to public.

Sarbanes-Oxley Act

A law passed by the U.S. Congress in 2002 aimed at protecting investors from fraudulent financial reporting by corporations.

Securities Act of 1933

United States federal law enacted as a result of the stock market crash of 1929, which requires securities sold to the public to be registered and regulated.

Form 8-K

A report filed by publicly traded companies with the SEC to announce significant events that shareholders should know about.