Peggy Owens owns a store that sells exercise equipment. Each January 1, she makes a very accurate account of all her merchandise and products waiting to be sold that are in her store. On January 1, Peggy is taking account of her store's ________.
A) long-term assets
B) owners' equity
C) accounts payable
D) accounts receivable
E) inventory

Question

Quizplus · Accepted Answer

Peggy is taking account of her merchandise and products waiting to be sold, which is her inventory. Therefore, the best choice is E, inventory.

Peggy Owens Owns a Store That Sells Exercise Equipment