Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 43 - No. 45)
What does 'Inventory' represent on the Statement of Financial Position?
The total amount of cash held by the business.
Goods held for sale by the business.
Amounts owed by the business to its suppliers.
The total of owner's equity.
Explanation
Inventory represents the goods a company holds for sale to customers and is an asset.
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