Which of the Following Types of Inventory Usually Is Not

question 60

Multiple Choice

Which of the following types of inventory usually is not held by a manufacturing business?

• A) Finished goods inventory.
• B) Raw material inventory.
• C) Work in process inventory.
• D) Merchandise inventory.

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Definitions:

Proximate Cause

The primary reason an event occurs that, in a natural and continuous sequence, leads to a legal injury, and without which the injury would not have occurred.

Palsgraf v. Long Island

A landmark 1928 legal case in which the New York Court of Appeals established the principle of foreseeability in determining negligence.

Negligence Case

A legal dispute involving claims that a person's carelessness resulted in harm or damage to another.

Negligence Per Se

A judicial principle that deems an action as automatically negligent due to the breach of a law or regulation.