Inventories needed for the production of services and goods (inputs to a firm's transformation processes) are called:
A) quarantined materials.
B) work-in-process.
C) raw materials.
D) finished goods.

Question

Quizplus · Accepted Answer

Raw materials are the inventories needed for the production of goods and services. Quarantined materials are materials that have been isolated due to potential contamination or quality issues. Work-in-process (WIP) refers to partially completed products that are still being worked on in the production process. Finished goods are the final products that are ready for sale to customers.

Inventories Needed for the Production of Services and Goods (Inputs