3
Question
When goods are purchased, they are considered as a/an
When goods are purchased, they are considered as a/an
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Solution
The correct option is A asset
When goods are purchased, they are considered as stock which is an asset, and when they are consumed, the consumption part is considered as an expense.
When goods are purchased, they are considered as stock which is an asset, and when they are consumed, the consumption part is considered as an expense.
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