Which Types of Inventories Does a Manufacturing Business Report on the Balance

question 129

Multiple Choice

Which types of inventories does a manufacturing business report on the balance sheet?

• A) Finished goods inventory and work in process inventory
• B) Direct materials inventory and work in process inventory
• C) Direct materials inventory, work in process inventory, and finished goods inventory
• D) Direct materials inventory and finished goods inventory

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Definitions:

Negligence

Failure to take reasonable care to avoid causing injury or loss to another person.

Insurer

An entity that provides insurance policies to individuals or organizations, offering financial protection against losses from specified risks.

Fraud

Intentional deception or misrepresentation made by a person with the knowledge that the deception could result in some unauthorized benefit to oneself or some other person.

Recover Money

The process of obtaining funds that were lost or owed through legal or other means.