On the financial statements prepared at the end of an accounting period,the merchandise inventory is shown as
A) a liability on the balance sheet.
B) revenue on the income statement.
C) an asset on the balance sheet.
D) an addition to capital on the statement of owner's equity.

Question

Quizplus · Accepted Answer

Merchandise inventory is a current asset and is shown on the balance sheet under the assets section.

On the Financial Statements Prepared at the End of an Accounting