Which of these is defined as the goods that the organization keeps on hand for use in the production process up to the point of selling the final product to customers?
A) Inventory
B) Finished-goods
C) Raw materials
D) Work in process
E) All of these

Question

Quizplus · Accepted Answer

Inventory is the term used to describe all the goods that an organization keeps on hand for its operations. This includes raw materials, work in process, and finished goods. However, since the question specifically refers to goods used in the production process up to the point of selling the final product, the correct answer is inventory.

Which of These Is Defined as the Goods That the Organization