Inventory is defined as goods held for resale in the ordinary course of business.Which of the following would not be included in inventory for any type of business?

Question

Quizplus · Accepted Answer

Cash at bank is not a good held for resale and therefore would not be included in inventory for any type of business. Land held for resale, work in process, and computers are all goods that could potentially be held for resale and would be included in inventory.

Inventory Is Defined as Goods Held for Resale in the Ordinary