Match
-Inventories
A)Current Assets
B)Tangible Assets
C)Investments
D)Intangibles
E)Other
F)Current Liability
G)Long-Term Liability
H)Capital Stock
I)Retained Earnings
J)Item Not Included on Balance Sheet

Question

Quizplus · Accepted Answer

Inventories are considered current assets because they are expected to be converted into cash within one year.

Answer: B or E
 Depending on the type of inventory, it may be classified as a tangible asset (e.g. merchandise) or categorized under the "other" section of the balance sheet (e.g. work-in-progress inventory).

Answer: J
 It is possible that an item related to inventories is not included on the balance sheet due to materiality or other accounting considerations.

Match -Inventories