Inventory is goods held by a company for the purpose of sale to customers,and is considered a liability on the balance sheet.

Name: Inventory is goods held by a company for the purpose of sale to customers,and is considered a liability on the balance sheet.
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Quizplus · Accepted Answer

Inventory is considered an asset on the balance sheet, not a liability. This is because it represents goods that the company has purchased and intends to sell, which will generate revenue and increase the company's overall value.

Inventory Is Goods Held by a Company for the Purpose