Question

Commodities bought for resale are treated as _________.

• A. Expenses
• B. Stock
• C. Goods
• D. Assets

Answer 1

The correct option is C Goods

Goods means those commodities which are bought for resale.
The amount receives by selling goods is known as Sales.
Purchase of goods is termed as Purchases. If goods remain unsold at the end of the financial year then it termed as Closing Stock.