Which Statement Relating to Inventory Is Not Correct

question 19

Multiple Choice

Which statement relating to inventory is not correct?

• A) Another name for inventory is stock-in-trade.
• B) It makes up a significant portion of a retailer's assets.
• C) It is a very active asset, continually being acquired, sold and replaced.
• D) It is classified as a non-current asset in the balance sheet.

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Definitions:

Conscious Interpretation

The mental process of assigning meaning to perceptions, thoughts, or feelings within one's awareness.

Complex Feelings

Emotions that are multifaceted, often involving a mixture of different feelings that are not easily described by basic emotions.

Automatic Processing

A type of cognitive processing that occurs with little effort, conscious thought, or attention, typically because it has become an ingrained skill through repetition.

Two-Factor Theory

A theory suggesting that emotion is based on physiological arousal and cognitive labeling of that arousal.