On a merchandising balance sheet,Merchandise inventory is listed as a(n):
A) current asset.
B) current liability.
C) expense.
D) revenue.

Name: On a merchandising balance sheet,Merchandise inventory is listed as a(n): A) current asset. B) current liability. C) expense. D) revenue.
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Question

Quizplus · Accepted Answer

Merchandise inventory is a current asset because it is held for the purpose of being sold in the normal course of business within a year or less.

On a Merchandising Balance Sheet,Merchandise Inventory Is Listed as A(n)