Inventory Is Categorised in the Balance Sheet as A

question 63

Multiple Choice

Inventory is categorised in the balance sheet as a:

• A) current asset.
• B) current liability.
• C) non-current asset.
• D) non-current liability.

---

Definitions:

Total Utility

The total satisfaction or benefit received by consuming a specific quantity of a good or service.

Units of Utility

A measure of satisfaction or pleasure that a consumer receives from consuming a product or service.

Utility

In economics, a measure of satisfaction or happiness that a consumer derives from the consumption of goods and services.

Satisfaction

The fulfillment of one's needs or the pleasure derived from consuming goods or services.