The Economic Resources of a Business That Are Expected to Produce

question 41

Multiple Choice

The economic resources of a business that are expected to produce a benefit in the future are:

• A)liabilities.
• B)assets.
• C)owners' equity.
• D)expenses.

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Definitions:

Cycle Inventory

Inventory that turns over repeatedly throughout a period as part of the normal course of business operations.

Safety Inventory

Extra inventory held to guard against uncertainty in demand or supply, ensuring that demand can be met without stockouts.

Inexpensive Mode

A cost-effective way or method of completing a task or process, often referring to transportation or production methods.

High Value

Items or services that are considered to be of great importance or worth, often commanding a high price in the market.