Inventory refers to the stock held by the company. An example of inventory could be "Fancy dishes and silverware used at a restaurant".
<h3>What is an inventory?</h3>
Inventory can be defined as the stock of goods or raw materials held by the company for further production or for sales.
Inventory varies from business to business. For example, for a scooter dealer, the scooters available at the store are his inventory.
For a restaurant business, the dishes, bowls, other utensils, tables, oil, and so on are considered as inventory.
Therefore, the correct option is C.
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Answer:
A.True
Explanation:
a person who sets up a business or businesses, taking on financial risks in the hope of profit.
Answer:
Signwriters design, manufacture and install signs, including advertising signs for shops, businesses and public facilities as well ... Traditional signwriters use methods closely related to those of their forebears in this craft and do not ... Designs are often created by hand on the drawing board and later combined with CAD
Answer:
b.29,727 units
Explanation:
Break even Point = Fixed Costs ÷ Contribution per unit
therefore
Break even Point = $327,000 ÷ $11
= 29,727 units
Answer:
The balance in retained earnings at the end of the year will be $70,300.
Explanation:
Retained earning beginning balance = $46,600
Net Income for the year = $50,900
Dividend Paid = $21,200
Retained earning Ending balance = Retained earning beginning balance + Net Income for the year - Dividend paid during the year
Retained earning Ending balance = $46,600 + $50,900 - $21,200
Retained earning Ending balance = $70,300
So, the balance in retained earnings at the end of the year will be $70,300.