What type of account appears on the financial statements of manufacturing firms only?
A)bonds payable
B)materials inventory
C)prepaid insurance
D)retained earnings

Question

Quizplus · Accepted Answer

Materials inventory is a type of account that appears only on the financial statements of manufacturing firms, as they need to track the raw materials they have on hand for the production of their goods. Bonds payable, prepaid insurance, and retained earnings can appear on the financial statements of other types of firms as well.

What Type of Account Appears on the Financial Statements of Manufacturing