Use the Information Below to Answer the Following Question(s)

question 79

Multiple Choice

Use the information below to answer the following question(s) .Toronto Industries Inc.had the following activities during the year:

-Goods available for sale that are not in ending inventory

• A)are included in goods available for sale in the next year.
• B)are included in the work-in-process inventory at the end of the year.
• C)are not accounted for until the next year.
• D)are incorporated in the cost of goods sold amount.
• E)are included in beginning inventory.

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Definitions:

Existence

The state or fact of living or having objective reality.

Initial

Pertaining to the beginning, first, or early stages of a process or series.

Management

The process of planning, organizing, leading, and controlling resources in order to achieve the goals of an organization.

Available Resources

The tangible and intangible assets that a company or an individual possesses, which can be utilized to achieve goals, including financial, human, technological, and natural resources.