Inventory is categorised in the balance sheet as a:
A) current asset.
B) current liability.
C) non-current asset.
D) non-current liability.

Question

Quizplus · Accepted Answer

Inventory is considered a current asset as it is expected to be sold or used up within a year or operating cycle, whichever is longer. It is also part of the company's working capital and essential for the day-to-day operations of the business.

Inventory Is Categorised in the Balance Sheet as A