Which of the Following Accounts Would You Expect to Find

question 127

Multiple Choice

Which of the following accounts would you expect to find on the balance sheet of a manufacturing company?

• A)finished goods inventory, raw materials inventory, and merchandise inventory
• B)finished goods inventory, work-in-process inventory, and merchandise inventory
• C)raw materials inventory, work-in-process inventory, and merchandise inventory
• D)finished goods inventory, raw materials inventory, and work-in-process inventory
• E)none of the above

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Definitions:

FTC Action

Measures taken by the Federal Trade Commission, an independent agency of the United States government, to enforce antitrust laws and protect consumers from deceptive business practices.

Cooling-Off Rule

A regulation that allows consumers a set period to cancel agreements or contracts without penalties.

Salesperson

An individual who sells goods or services to customers for a living.

Open-End Credit Line

A flexible loan facility that allows borrowers to draw down, repay, and redraw loans up to a specified credit limit.