The balance sheet of a ________ company will include Work-in-Process Inventory as a line item.
A) manufacturing
B) merchandising
C) service
D) trading

Question

Quizplus · Accepted Answer

Work-in-Process Inventory is an inventory account that records the cost of partially completed goods, which is usually found in the manufacturing industry. Merchandising, service, and trading companies usually do not have work-in-process inventory as part of their balance sheet.

The Balance Sheet of a ________ Company Will Include Work-In-Process