Solve
Guides
0
You visited us 0 times! Enjoying our articles? Unlock Full Access!
Question

Which of the following is not classified as inventory in the financial statements?

A
Finished goods
B
Work-in-process
C
Stores and spares
D
Advance payments made to suppliers for raw materials
Open in App
Solution
Verified by Toppr

Correct option is D. Advance payments made to suppliers for raw materials

Was this answer helpful?
0
Similar Questions
Q1
Which of the following is not classified as inventory in the financial statements?
View Solution
Q2

How is inventory classified on the financial statement?


View Solution
Q3
Inventory is classified as a ________.
View Solution
Q4

Which of the following is not a part of financial statements of NPO?


View Solution
Q5
In which financial statement should we classify the following into:-
a) Income tax
b) Sales tax collected
View Solution