A stove in the hands of a manufacturer is classified as ________;if it is used in a restaurant it is ________;if it is used in a home it is classified as ________.

Question

Quizplus · Accepted Answer

It is important to note that an item such as a stove could,in different situations,be classified as inventory,equipment,or consumer goods.In the hands of the manufacturer or an appliance store,the stove is inventory.If it is being used in a restaurant,it is equipment.In a home,it is classified as consumer goods.

A Stove in the Hands of a Manufacturer Is Classified