Inventories are assets that a company holds for sale in the ordinary course of business.

Question

Quizplus · Accepted Answer

Inventories are defined as assets that a company holds for sale in the ordinary course of business. This includes goods that are in the process of being manufactured or produced, as well as finished goods that are ready for sale. Holding inventories is an important part of many businesses, as it allows them to meet customer demand and respond quickly to changes in the market.

Inventories Are Assets That a Company Holds for Sale in the Ordinary