Which of the Following Subsystems Are in the Inventory Process

question 64

Multiple Choice

Which of the following subsystems are in the inventory process?

• A) Production control, inventory management, cost accounting
• B) Inventory management, cost accounting, accounts payable
• C) Inventory management, cost accounting, accounts receivable
• D) Production control, receiving, inventory management

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Definitions:

Revenues

The full extent of revenue garnered from the commercial activities that are at the core of a company’s operational agenda, particularly through goods or services.

Assets

Resources owned by a company that have economic value and can be used to meet its future obligations.

Liabilities

are legal financial debts or obligations that arise during the course of business operations.

Owner's Equity

The residual interest in the assets of a business after deducting liabilities, representing the ownership interest of shareholders or partners.