Which one of the following is usually classified as an inventory item?
A. Items purchased and the quantity on hand does not need to be tracked
B. Items purchased for a specific customer job
C. Goods purchased for resale to customers
D. Items purchased and used by the company such as office supplies
Answer: C
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Answer the following statements true (T) or false (F)
1.The trade theories of Adam Smith and David Ricardo viewed the determination of competitiveness from the demand side of the market. 2.According to the principle of absolute advantage, international trade is beneficial to the world if one nation has an absolute cost advantage in the production of one good while the other nation has an absolute cost advantage in the other good. 3.The principle of absolute advantage asserts that mutually beneficial trade can occur even if one nation is absolutely more efficient in the production of all goods. 4.The basis for trade is explained by the principle of absolute advantage according to David Ricardo and the principle of comparative advantage according to Adam Smith. 5.The principle of comparative advantage contends that a nation should specialize in and export the good in which its absolute advantage is smallest or its absolute disadvantage is greatest.
Assume that factory depreciation for the year is $240,000. What problem could result from dividing that amount by 12 and assigning $20,000 in depreciation to the products made each month?
What will be an ideal response?
The Sherman, Clayton, and Robinson-Patman Acts are all federal laws that were enacted to curb the formation of ________
A) monopolies B) global partnerships C) competitive markets D) internal markets E) intrastate partnerships
______ and change characterize our lives.
a. Choice b. Chance c. Clarity d. Commodity