An accountant buys a supply of pencils to be used in calculating the taxes of other business firms. Based on this information, pencils in this case would be considered what type of product?
A) Business
B) Process materials
C) Raw material
D) Convenience
E) Consumer

Question

Quizplus · Accepted Answer

The fact that the accountant is buying pencils to be used in calculating taxes for other business firms suggests that the pencils are being used as a tool of the accountant's trade. Therefore, since they are being used in a business context, the pencils would be classified as a business product.

An Accountant Buys a Supply of Pencils to Be Used