Which One of the Following Inventories May Not Be Valued

question 67

Multiple Choice

Which one of the following inventories may not be valued for balance sheet purposes at the inventory's selling price less distribution costs even if it is above the cost of the inventory?

• A)grain for an agricultural company
• B)crude oil for an oil company
• C)gold for a mining corporation
• D)laptops for a computer manufacturer

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Definitions:

Higher-order Need

Advanced psychological needs that go beyond basic physical requirements, such as social belonging, esteem, and self-actualization, according to Maslow's hierarchy.

Maslow's Needs

A hierarchy of human needs proposed by Abraham Maslow that describes motivational factors from basic physiological needs to self-actualization.

Direction

Guidance or supervision provided to perform tasks or to make decisions and progress in activities or objectives.

Motivation

The process that initiates, guides, and maintains goal-oriented behaviors.