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Inventory is also referred to as
  • a)
    Stock
  • b)
    Materials
  • c)
    Surplus
  • d)
    Orders
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Inventory is also referred to asa)Stockb)Materialsc)Surplusd)OrdersCor...
The amount of material, a company has in stock at a specific time is known as inventory or in terms of money it can be defined as the total capital investment over all the materials stocked in the company at any specific time. Inventory may be in the form of,
  • raw material inventory
  • in process inventory
  • finished goods inventory
  • spare parts inventory
  • office stationary etc.
Inventories are needed because demand and supply can not be matched for physical and economical reasons.
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Inventory is also referred to asa)Stockb)Materialsc)Surplusd)OrdersCorrect answer is option 'A'. Can you explain this answer?
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