ENTREPRENEURSHIP

ENTREPRENEURIAL OPERATIONS

INVENTORY MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which is not an example of inventory
A
Machine
B
Raw material
C
Work in progress
D
Finished goods
Explanation: 

Detailed explanation-1: -The answer is CNC Milling Machine.

Detailed explanation-2: -Inventory refers to all the items, goods, merchandise, and materials held by a business for selling in the market to earn a profit. Example: If a newspaper vendor uses a vehicle to deliver newspapers to the customers, only the newspaper will be considered inventory. The vehicle will be treated as an asset.

Detailed explanation-3: -Inventory is goods and items bought by your customers. Any equipment or asset used to facilitate sales is not your inventory; its an asset. Example-If you are in the online sales business for books, the vehicle used to deliver books to customer’s houses is not your inventory; books are your inventory.

There is 1 question to complete.