___ refers to goods purchased normally with the intention to resell or trade in.

Stock in trade

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Work in progress

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Raw materials consumed

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All of these

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Solution

The correct option is A
Stock in trade

Stock in trade refers to goods purchased normally with the intention to resell or trade in.

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Similar questions

_________________ shows the effect of the material consumed, the purchases of stock in trade and the changes in inventory of work in progress and finished goods.

Q. Change in inventories of finished goods, work-in-progress and stock-in-trade means _________________________.

Q. Calculate Cost of Materials Consumed from the following:
Opening Inventory of Materials ₹3,50,000; Finished Goods ₹75,000; Stock-in-Trade ₹2,00,000; Closing Inventory of: Materials ₹3,25,000; Finished Goods ₹85,000; Stock-in-Trade ₹1,50,000; Purchases during the year: Raw Material ₹17,50,000; Stock-in-Trade ₹9,00,000.

The difference between opening and closing inventories of finished goods, work-in-progress and stock-in-trade shall be classified as ___

Q. Which of the following statements are correct?
I. Inventory includes raw materials, finished goods and work-in-progress
II. Inventory is a part of the working capital
III. Inventory includes goods likely to be purchased.

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___ refers to goods purchased normally with the intention to resell or trade in.

The correct option is A Stock in trade Stock in trade refers to goods purchased normally with the intention to resell or trade in.

The correct option is A
Stock in trade

Stock in trade refers to goods purchased normally with the intention to resell or trade in.