Inventory Is Defined as Goods Held for Resale in the Ordinary

question 30

Multiple Choice

Inventory is defined as goods held for resale in the ordinary course of business. Which of the following would not be included in inventory for any type of business?

• A) Furniture
• B) Cash at bank
• C) Work in process
• D) Land held for resale

---

Definitions:

Trustworthiness

The ability to be relied on as honest or truthful.

Ingratiation

A psychological technique involving deliberate efforts to win someone's favor or to make oneself appear more likable to others.

Interpersonal Rewards

Benefits or positive outcomes that arise from social interactions, including emotional support, companionship, and shared activities.

Moral

This pertains to principles or rules of conduct that are regarded by a particular group or culture as governing the distinction between right and wrong or good and bad behavior.