10.Carrying insufficient quantities of inventory on A) would not affect the company's profitability B) may result in lost sales. C) has little effect on customer satisfaction. D) will increase the costs of carrying inventory. 11 Inventory shipped FOB shipping point and in transit on the last day of the year should be included in: A) the inventory balance of the seller. B) the inventory balance of the buyer. C) neither the inventory balance of the buyer or the seller. D) both the inventory balance of the buyer and the seller. 12 Acme Company's balance sheet shows three inventory accounts-raw materials, work in 13 process, and finished goods. Acme Company must be a: A) manufacturer. B) merchandiser. C) service business. D) wholesale distributor. Goods placed in inventory are initially recorded at: 14 A) market value. B) the amount paid to acquire the asset. C) the amount paid to prepare the asset for sale to customers. D) the amount paid to acquire the asset and prepare it for sale. 15.When a company sells goods, it removes their cost from the balance sheet and reports the cost on the income statement as A) Selling Expenses. B) Cost of Goods Sold C) Finished Goods Inventory. D) Inventory

Question

06-12-2022
Business

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10.Carrying insufficient quantities of inventory on A) would not affect the company's profitability B) may result in lost sales. C) has little effect on customer satisfaction. D) will increase the costs of carrying inventory. 11 Inventory shipped FOB shipping point and in transit on the last day of the year should be included in: A) the inventory balance of the seller. B) the inventory balance of the buyer. C) neither the inventory balance of the buyer or the seller. D) both the inventory balance of the buyer and the seller. 12 Acme Company's balance sheet shows three inventory accounts-raw materials, work in 13 process, and finished goods. Acme Company must be a: A) manufacturer. B) merchandiser. C) service business. D) wholesale distributor. Goods placed in inventory are initially recorded at: 14 A) market value. B) the amount paid to acquire the asset. C) the amount paid to prepare the asset for sale to customers. D) the amount paid to acquire the asset and prepare it for sale. 15.When a company sells goods, it removes their cost from the balance sheet and reports the cost on the income statement as A) Selling Expenses. B) Cost of Goods Sold C) Finished Goods Inventory. D) Inventory

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rekharaypriti8910 rekharaypriti8910 · Answer 1 · 2022-12-13T11:22:26+01:00

Option B is correct. Carrying insufficient quantities of inventory on may result in lost sales.

Inventory or stock alludes to the items and substances that a business holds for the excess motivation behind resale, fabricating, or utilization. Inventory the board is a region generally roughly indicating the structure and site of supplied merchandise. It is required at restrictive spots inside an office or inside many spots of a conveyance local area to go before the normal and conscious bearing of assembling and stock of substances.

Stock, stock or canvases in framework (or works of art underway) has been drawn out from creation designs to supplier organizations and activities, through summing up the definition to be "all compositions inside the means of assembling - all canvases this is or has occurred past to the last bit of assembling". With regards to an item fabricating framework, stock alludes to all compositions that has occurred - uncooked substances, part of the way finished stock, finished stock past to deal, and takeoff from the delivering framework. With regards to administrations, stock alludes to all artworks completed past to deal, for example, incompletely framework data

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