ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which is not an example of inventory
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Machine
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Raw material
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Work in progress
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Finished goods
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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.