Listed below are five terms followed by a list of phrases that describe or characterize the terms.Match each phrase with the best term placing the letter designating the term in the space provided.
-_____ Products that have started the production process but are not yet complete at the end of the period.

Question

Quizplus · Accepted Answer

Products that have started the production process but are not yet complete at the end of the period are referred to as work-in-process inventory. This is the option that best describes the given phrase. Merchandising companies deal with finished products that are bought and sold, while manufacturing companies produce their own goods from raw materials. Raw materials are the basic materials used in manufacturing, and finished goods are completed products ready for sale.

Listed Below Are Five Terms Followed by a List of Phrases