_____ is reported as a current asset on balance sheet.

Question

Quizplus · Accepted Answer

Merchandise inventory is reported as a current asset on the balance sheet, representing the value of goods that the company currently owns and intends to sell. Operating income is a measure of profitability and not a balance sheet item. Cost of goods sold is an expense and is reported on the income statement. Accounts payable is a liability and is reported as a current liability on the balance sheet.

_____ Is Reported as a Current Asset on Balance Sheet