Which of the Following Is True of Finished Goods Inventory

question 8

Multiple Choice

Which of the following is true of finished goods inventory?

• A)Finished Goods Inventory is an account used by a manufacturer and includes completed goods that have not yet been sold.
• B)Finished Goods Inventory is an account used by a merchandiser and includes completed goods that have not yet been sold.
• C)Finished Goods Inventory is an account used by service companies in lieu of raw materials inventory.
• D)Finished Goods Inventory is an account used by a manufacturer in lieu of raw materials inventory.

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Definitions:

Evolutionary Theory

A set of scientific principles and hypotheses that explain the diversity of life on Earth through the process of evolution by natural selection.

Life History

Life history refers to the pattern of investment an organism makes in growth and reproduction. Life history traits include an organism’s age at first reproduction, the duration and schedule of reproduction, the number and size of offspring produced, and life span.

Age At First Reproduction

The age at which an organism successfully produces offspring for the first time, an important life-history trait affecting fitness and evolution.

Offspring Number

The total count of new organisms produced or born to parent organisms within a given time frame.