The purpose of change or scope of change section of a change order form would include the desired outcomes of a project.
To change is to evolve. You can think that circumstances are beyond your control and that you are susceptible to change (determinism). Alternatively, you can think that you bring about change and are in control of your behavior (free will).
The goal of the change initiative is to manage the entire change lifecycle, allowing for the implementation of good changes with the least possible impact on IT services. The change enables us to advance in life and take part in the novel and interesting experiences. Life might become stagnant if you don't actively focus on improving yourself.
Changes that you never realized were possible can be brought about by developing new skills or concentrating on your inner self. Change control's primary objectives are to prevent unauthorized changes and minimize errors.
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the weakness of the departmental and the plantwide overhead rate methods is that
The weakness of the departmental and the plantwide overhead rate methods lies in their oversimplification of allocating overhead costs.
Both methods use predetermined overhead rates to allocate indirect costs to products or cost centers based on a single allocation base, which may not accurately reflect the actual resource consumption.
1. Departmental overhead rate method: This method allocates overhead costs to products or cost centers within each department based on a single allocation base specific to that department. The weakness here is that it ignores potential interdepartmental cost interactions, leading to the misallocation of costs if activities or resources are shared among departments.
2. Plantwide overhead rate method: This method calculates a single overhead rate for the entire production facility, using a single allocation base to allocate costs to products. The weakness lies in assuming that all products consume resources in the same proportion, which may not be the case. Products with different resource utilization patterns may be assigned inaccurate overhead costs.
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Accounts Receivable, Prepaid Accounts, Supplies, and Land are examples of ________ accounts.
Asset accounts include things like Accounts Receivable, Prepaid Accounts, Supplies, and Land.
What kind of accounts receivable would that be?A maker of furniture who has supplied furniture to a retail business is an example of an account receivable. Payment due is noted under accounts receivable once the manufacturer bills the retailer for the furniture. The maker of the furniture is awaiting payment from the retailer.
What are some examples of accounts payable and receivable?When a business purchases raw materials from a supplier, it creates an account payable for the business. Accounts receivable, meantime, result from the sale of products or services. When a client pays you in instalments, the outstanding balance will be recorded as an account receivable until it is settled in full.
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five years later, your business has expanded to five locations in two cities in the same country. how do you keep in touch with them all?
In general, there are three different ways to structure multiple businesses: one can establish separate corporations, limited liability companies, or partnerships for each business.
One can establish fictitious names or DBAs under one corporation; or one can establish a holding company under which all businesses are housed. Network Organization. When two businesses collaborate to pool resources or if your business has many sites with distinct responsibilities and corporations, a network structure is frequently developed. When a company reaches a certain point in its growth and starts looking for new ways to increase profits, that stage is known as business expansion.
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historically, long-term returns of the stock market have been negative. T/F
False. Historically, the long-term returns of the stock market have been positive. Over the long term, the stock market has historically produced returns that have outperformed other investments, such as bonds and savings accounts.
Historically, the stock market has been a good source of long-term investment returns for many investors. While the stock market can be volatile and subject to fluctuations in the short term, over the long term, the stock market has generally delivered positive returns. According to long-term data, the average annual return for the stock market in the United States over the past 100 years has been around 9%. This long-term return, which includes both bull markets and bear markets, demonstrates the potential for attractive returns from investing in the stock market over a long period of time. However, it is important to understand that the stock market can be subject to short-term volatility, and there may be periods of time when the market experiences negative returns. For example, during the 2008 financial crisis, the stock market experienced a significant decline, with many stocks losing more than 50% of their value. Similarly, there have been other periods of market decline, such as the 2000-2002 dot-com bust. Despite these short-term challenges, the long-term trend in the stock market has been positive. In fact, many financial experts recommend investing in the stock market as a way to grow wealth over the long term. To do so, investors can consider investing in a diversified portfolio of stocks, either directly or through mutual funds or exchange-traded funds (ETFs).
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a decrease in energy prices in the short run generally
A decrease in energy prices in the short run can have a variety of effects on the economy, depending on the cause of the price decrease and the overall state of the economy.
Here are some potential effects:
Increased consumption: A decrease in energy prices generally leads to an increase in consumption. Lower prices for gasoline and heating oil, for example, can lead to higher demand for these products as consumers are able to purchase more for the same amount of money.Improved economic growth: A decrease in energy prices can boost economic growth by freeing up money for consumers to spend on other goods and services. This increased spending can lead to an increase in production and employment, as businesses respond to higher demand for their products.Improved competitiveness: A decrease in energy prices can make a country's products and services more competitive in global markets. This can lead to increased exports and a larger trade surplus.Lower inflation: A decrease in energy prices can lead to lower overall inflation, as energy is a component of many goods and services in the economy. This can help to keep the overall cost of living in check and support economic stability. Negative effects on energy producers: On the other hand, a decrease in energy prices can have a negative impact on energy producers. Lower prices can lead to decreased revenue and lower profits, which can lead to layoffs and reduced investment in new projects.It's worth noting that the effects of a decrease in energy prices can be different in the short run and the long run.
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which two are the most common unethical behaviors when it comes to competition in business?
The most common unethical behaviors when it comes to competition in business A. economic espionage, D. bribery
Behavioural ethics, a relatively new field of social science research, tries to understand how people actually react when presented with moral dilemmas. [1] [2] It makes reference to behaviour that is analysed in light of widely accepted social norms. Behavioural ethics has resulted in the development of ethical models like the so-called "bystander intervention," which describes ethical behaviour as being much harder to demonstrate, thanks to what we learn from social institutions like family, school, and church.In this scenario, there are a number of measures that must be taken in order to intervene in an ethically troubling situation; failure to take any of them leads to unethical behaviour. The conduct that is ethical in several field.The "next great thing" in ethics is arguably educational ethics and behaviour.
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Complete question is here:
Which two of the following are the most common unethical behaviors when it comes to competition in the business?
a. economic espionage
b. deceptive advertising
c. sale of faulty products
d. briber
a production possibilities curve illustrates: group of answer choices consumer preferences. the distribution of income. scarcity. market prices.
A production possibilities curve illustrates a scarcity.
What is production possibilities?In economics, a production possibilities curve assesses the maximum output of two items with a certain quantity of input. Any combination of the four variables of production: natural resources (including land), labor, capital goods, and entrepreneurship constitutes the input. A graph depicts the greatest quantity that may be produced by a curve.
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when advertisers show scenes of teenagers having fun snowboarding and laughing with friends while enjoying mountain dew soda, they are attempting to use classical conditioning. in this scenario the mountain dew is the:
When advertisers show scenes of teenagers having fun while enjoying mountain dew soda, they are attempting to use classical conditioning. in this scenario mountain dew is the conditioned stimulus.
A stimulation that eventually causes a conditioned reaction is known as a conditioned stimulus. The ringing of the bell served as the conditioned stimulus in the experiment reported, while salivation served as the conditioned response. Remember that the neutral stimulus changes into the conditioned stimulus.
The conditioned stimulus (CS), in the language of the classical conditioning paradigm, is a learnt stimulus that may eventually cause a conditioned response. For instance, in Pavlov's experiment, the conditioned stimulus is the sound of a bell, and the conditioned response is the dogs salivating.
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what was the main economic activity of the french?
Pharmaceuticals, manufacturing, and tourism are the three main sectors of France's diverse economy.
Briefing:-Despite maintaining a significant presence in industries like power, public transportation, and defense, the government has partially or entirely privatized several large corporations.
What are Paris's primary economic activities?Paris's economy is heavily centered on services and commerce: of the 390,480 businesses there, 80.6% are involved in trade, transportation, and a variety of services, compared to 6.5% in building, and only 3.8% in manufacturing.
What kind of business did the French and Indians conduct most frequently?Selling and trading animal furs (like beaver pelts). Native American tribes in North America were the primary focus of the French and Dutch colonists' fur trade.
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if a firm's resource is valuable, rare, costly to imitate, and the firm is organized to exploit it, this resource is a
If a firm's resource is valuable, rare, costly to imitate, and the firm is organized to exploit it, this resource is a expensive resource.
What is a resource?
Any element required to complete a task or conduct an activity is referred to as a resource in the context of business and economics. They are, in a nutshell, the elements that a business needs in order to operate. Employees, office space, tools, or money are examples of resources.
A firm can use a variety of different types of resources. Resource management refers to the process of distributing resources so that a business can carry out its task as effectively as possible. People with project management experience who are qualified to make these kind of business-related judgement decisions frequently carry out this process on behalf of their employers.
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what are the main weaknesses in an internal control system that permit fraudsters the opportunity to commit cash larceny schemes?
Weaknesses in internal control systems that allow for cash larceny schemes include inadequate segregation of duties, lack of physical controls, and insufficient monitoring.
Internal control systems are designed to prevent fraud and protect an organization's assets. However, when these systems have weaknesses, fraudsters may be able to exploit these vulnerabilities to commit cash larceny schemes.
For example, if there is an inadequate segregation of duties, an individual may have complete control over all aspects of a transaction, making it easier to steal money.
A lack of physical controls, such as secure storage of cash or limited access to cash, can also increase the risk of theft. Insufficient monitoring and reconciliation procedures can make it difficult to detect fraudulent activity, allowing it to continue unnoticed.
Addressing these weaknesses is important in reducing the risk of cash larceny and maintaining the integrity of an organization's financial systems.
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a process that involves calculating the value of a future cash flow or series of future cash flows based on a specified interest rate. called?
The term "discounted cash flow" refers to a method of valuing future cash flows or a series of future cash flows using a predetermined interest rate (DCF)
The term "discounted cash flow" (DCF) refers to a method of valuation that calculates an investment's value based on its anticipated future cash flows. Using estimates of how much money an investment will make in the future, DCF analysis seeks to evaluate the value of an investment today. It can aid those who are trying to decide whether to purchase securities or a firm. Business owners and managers can use discounted cash flow analysis to help them make decisions about operational and capital budgets. A disadvantage of DCF is that it depends on forecasts of future cash flows that may be inaccurate.
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in recent years some companies have begun to work closely with their customers and/or suppliers by sharing information to develop forecasts of demand. the procedure they are following is known as:
Some companies have recently begun working closely with their customers and/or suppliers to develop and implement demand strategies. They employ an approach called collaborative planning, forecasting, and replenishment.
What is Collaborative planning?The interactive method of planning is called collaborative planning.
Collaborative planning aims to involve as many stakeholders as possible in everything from governance frameworks to architectural drafts.
There are many facilitation strategies that are employed to promote collaboration and consensus.
Stakeholder and public participation are used in the interactive process of collaborative planning to develop and implement consensus.
Through reflection on their practice, consultation with colleagues, and skill development, teachers can work together during the school day to build such connections through collaborative planning.
In order to create and carry out demand plans, some businesses have started collaborating closely with their clients and/or suppliers in recent years.
Collaborative planning, forecasting, and replenishment is the method they are using.
Therefore, some companies have recently begun working closely with their customers and/or suppliers to develop and implement demand strategies. They employ an approach called collaborative planning, forecasting, and replenishment.
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TRUE/FALSE. A food worker at a catered event takes ice cubes from a cooler full of soda cans and uses it to cool soda poured into customer's drink cups.
False. A food worker at a catered event should not take ice cubes from a cooler full of soda cans and use it to cool soda poured into customer's drink cups.
This is because using ice from a cooler full of soda cans increases the risk of contamination, as it may contain bacteria or other harmful substances from the cans. Ice intended for consumption should come from a designated source, such as a bag of ice from a food supply store, to ensure its safety and quality. Using contaminated ice in drinks served to customers can lead to foodborne illness and other health problems, which is why it is important for food workers to follow proper food safety protocols and procedures. To ensure the safety and quality of food and drinks served at a catered event, it is best to only use ice from a designated source, and avoid using ice from sources that may be contaminated.
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in the resource market: group of answer choices businesses borrow financial capital from households. businesses sell services to households. households sell resources to businesses. firms sell raw materials to households.
The concept is the Resource market, a market where businesses pay households for their resources: land, labor, capital, and entrepreneurship. The answer is option C.
The resource market formally refers to a market that provides firms, firms, and organizations with factors of production in exchange for monetary benefits. Resource markets are markets that provide firms with the resources they need to deliver the goods or services they offer.
The resource market allows companies to produce goods that go to the product market. Families then use the finished products as part of their standard of living.
The resource market is then completed by people depositing money into savings accounts at banks and job seekers.
Question:
In the resource market,
A. businesses borrow financial capital from households.
B. businesses sell services to households.
C. households sell resources to businesses.
D. firms sell raw materials to households.
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krisp bite, a breakfast cereal manufacturer, has a storage facility to store sugar, corn, wheat, oats, rice, and barley before they are processed into cereal. in the context of operations management, krisp bite uses the storage facility to store its .
The storage facility is used by Krisp Bites to house its inventory in the framework of operations management.
Which four things make up a contingency plan's core elements?The four major steps in the contingency planning process include preparation, analysis, reaction planning, and implementing readiness, according to the Inter-Agency Contingency Planning Guidelines for Humanitarian Assistance, which were endorsed by the IASC.
The managerial styles of Frank and Lillian Gilbreth and Frederick Taylor are similar in which of the following ways?Which of the following management methods did Frederick Taylor and Frank and Lillian Gilbreth have in common? d. In an organization, both strategies intended to make work simpler.
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if korea is capable of producing either shoes or soccer balls or some combination of the two, then____
If Korea is capable of producing either shoes or soccer balls or some combination of the two, then Korea's opportunity cost of shoes is the inverse of its opportunity cost of soccer balls.
The expense of selecting a particular option or alternative over another option or alternative is known as the opportunity cost. We are informed that Korea can manufacture either shoes or soccer balls, or some mix of the two. Korea would therefore need to create a list of top priorities, often known as alternatives or possibilities. Then, Korea would evaluate its options and select the best one for them based on profit or any other factor. The opportunity cost of shoes in Korea is therefore inversely correlated with the opportunity cost of soccer balls.
Opportunity cost is the implicit cost experienced by forgoing a financial or time investment. Due to the limited nature of resources, pursuing one opportunity results in the loss of another. Because it generates a profit, the investment appears to be prudent on its own.
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On January 1, Year 3, Orr Company bought a building with an assessed value of $220,000 on the date of purchase. There was no established exchange price for the building. However, Orr could either choose to give as consideration a $400,000 noninterest-bearing note due on January 1, Year 6, or give a 3 year, $250,000 note bearing 6% interest paid annually. The interest-bearing note requires one principal payment at the end of the note’s term plus periodic interest payments during the note’s term. The effective interest rate is 8%. What would be the change in interest expense on Orr’s Year 3 income statement if Orr chooses to give the interest-bearing note instead of the noninterest-bearing note?
The change in interest expense on Orr's Year 3 income statement would be $1,080.
The effective interest rate of 8% is the rate at which the present value of the future payments (principal + interest) is equal to $220,000. To calculate the change in interest expense, we need to find the effective interest expense for the noninterest-bearing note, which would have been charged if Orr had chosen it instead of the interest-bearing note.
Let's call the effective interest expense for the noninterest-bearing note "I". The present value of the noninterest-bearing note would be equal to $220,000, which is the price of the building.
We can use the formula for the present value of a single amount (future value) to find I:
$220,000 = $400,000 / (1 + I)^3
Solving for I:
I = (400,000/220,000)^(1/3) - 1 = 0.0511 or 5.11%
The change in interest expense on Orr's Year 3 income statement would be $12,500 - $220,000 x 5.11% = $12,500 - $11,420 = $1,080
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just crack an egg is aimed at people concerned with on-the-go lifestyles. these people represent the just crack an egg a. marketing mix. b. marketing strategy. c. target market. d. marketing tactic. e. consumer advocates.
These people represent the just crack an egg c. target market.
Just Crack an Egg is a product that caters to people who lead busy and on-the-go lifestyles.
To effectively reach these consumers, Just Crack an Egg has implemented a marketing mix that effectively communicates the product's benefits and provides multiple channels for consumers to engage with the brand.
The marketing strategy for Just Crack an Egg focuses on targeting the right consumers with the right message at the right time.
The target market for Just Crack an Egg consists of consumers who are health-conscious and appreciate convenience. To achieve this, the company has employed marketing tactics such as sponsored content, influencer marketing, and targeted advertising.
Finally, the company has also created a network of consumer advocates who are passionate about the product and help spread the message of healthy, convenient food to the target audience.
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at a fair carnival roulette wheel, a player can either win $10, $30, or $80. assuming that the wheel is fair, what is the expected value of the play? a. $20 b. $40 c. $60 d. $80
The expected value of a fair carnival roulette wheel is an important calculation that helps determine the average outcome of a game over many trials. In this case, the expected value is $40, which is answer (b).
The expected value of a fair carnival roulette wheel is a mathematical calculation that helps determine the average outcome of a game over many trials. It is an important concept in probability and statistics.
To calculate the expected value for a fair carnival roulette wheel, we need to know the probability of each outcome and the value of each outcome. If the wheel is fair, the probability of each outcome is equal, and the expected value can be calculated by multiplying the value of each outcome by its probability and then summing these values.
In the case of the carnival roulette wheel, there are three possible outcomes: $10, $30, and $80. If the wheel is fair, each outcome has a probability of 1/3. The expected value of the game can be calculated as follows:
Expected value = (1/3) x $10 + (1/3) x $30 + (1/3) x $80
= $10 + $30 + $80 / 3
= $120 / 3
= $40
So, the expected value of the game is $40, which is answer (b). This means that, on average, a player can expect to win $40 for each play of the game, assuming that the wheel is fair.
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make an argument why the goal of the tort liability system deters or does not deter firms from engaging in risky behavior?
The goal of a tort liability system is to deter firms from risky behavior by holding them liable for damages caused by their activities. This is achieved by holding them liable for any loss or damage that an individual or organization suffers as a result of their negligence or willful misconduct.
Therefore, it is in the best interests of businesses to take proactive steps to minimize potential risks and protect the public from harm. Companies are thus more likely to avoid costly lawsuits and potential financial liabilities. The deterrent effect of the tort liability system therefore encourages businesses to be more aware of the risks they are taking and to take the necessary steps to ensure that their activities do not endanger the public.
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in business communication it is best to use words that are
Clear, concise, and professional. Avoid overly technical or complex language, jargon, and slang. Be respectful and avoid being confrontational or aggressive in tone.
In business communication, the language used should reflect the level of professionalism expected in the business world. Words should be chosen carefully to effectively convey the intended message and to build trust with the recipient. Clear and concise language helps to ensure that the message is understood and that the recipient can respond appropriately. Using language that is too technical or complex can lead to confusion, while the use of slang or unprofessional language can damage the reputation of both the sender and the organization. Additionally, a respectful and non-confrontational tone helps to maintain positive relationships and promotes a productive working environment.
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according to the passage, one explanation for the rise in final advantage as shown by the graph is that
For the rise in final advantage as shown by the graph is that- organization faces heavy loss.
What happens when there is rise in final advantage ?
Weak management might result in decrease in the productivity of the business operations. It ultimately results as loss for the business as there might be control deficiency in the presence of weak management. I can also effect the company reputation, which will lead to loss in market share. Employees turnover will also be an effect. All of these sums up as a single term of Loss.
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TRUE/FALSE. Age structure, geographic distribution, income distribution, interest rates, and process innovations are all elements of concern when studying the demographic segment of the general environment.
The given statement, "Age structure, geographic distribution, income distribution, interest rates, and process innovations are all elements of concern when studying the demographic segment of the general environment." is false because based on information like age and gender, demographic segmentation is a precise method of identifying an audience.
Demographic segmentation is a precise kind of audience identification based on data elements such as age, gender, marital status, family size, income, education, race, employment, country, and/or religion. It is one of the four major forms of marketing segmentation and is possibly the most often utilized strategy. Instead of targeting a whole market or a large client base, a brand will utilise this strategy to appeal directly to a specific fraction of the market.
Companies may spend their resources and time more effectively if they divide the market into smaller parts, each having a common variable. They can better grasp the commonalities between persons in the audience to decide which ideas they are likely to react to.
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explain one possible reason why sally thought it necessary to change the organisational culture of regal supermarkets.
One possible reason why Sally thought it necessary to change the organizational culture of Regal Supermarkets is because the existing culture may have been promoting negative behavior or attitudes.
Organizational culture plays a crucial role in the success of a company. Sally, the CEO of Regal Supermarkets, may have identified certain aspects of the company's culture that were hindering its growth and decided to implement changes to improve its performance.
For example, if employees were not motivated to perform at their best or were not working collaboratively, this could negatively affect the company's overall performance.
Sally may have realized that the company's culture was not aligned with its goals and vision and decided to change it to foster a more positive and productive work environment.
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unique skills or talents you use to deliver for customers: T/F
This statement is True, Unique skills or talents you use to deliver for customers.
Customers are individuals or groups that purchase items or services from a enterprise. They play a crucial role in the success of any business as they are the source of revenue. Understanding customer needs and preferences is key to creating products and services that meet their expectations. Companies use various methods to gather information about their customers, such as market research, surveys, and customer feedback. This information helps businesses to improve their offerings and create a better customer experience.
Happy customers often lead to increased loyalty, positive word-of-mouth, and repeat business, while unhappy customers can result in negative reviews, decreased sales, and harm to the company's reputation. It's essential for businesses to continuously monitor and respond to customer needs and expectations to maintain their satisfaction and build long-lasting relationships. In conclusion, customers are the driving force behind any business and should be treated with care and respect.
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Today's workplace is changing. Managers are less likely to adopt a (blank) leadership style. Now managers are more likely to create a (blank) work environment.
Working conditions are evolving. The use of a command and control leadership style is less common among managers. Managers have become more inclined to foster a flexible workplace.
The quantitative viewpoint gave decision-makers in management a mechanism to confront the enormous and intricate issues brought on by contemporary global conflict and the necessity for advanced tools. The facilitators are successful managers.
The administrative fundamentals perspective, inside the context of business viewpoints, is a subsection of something like the point of view that distinguishes the managerial processes of planning, organizing, ordering, regulating, and supervising and places the emphasis on the entire organisation instead of the unskilled employee.
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true or false. business process reengineering that starts with a ""clean sheet of paper"" runs the risk of destroying some valuable organizational capabilities which have taken many years to build
Business process reengineering that starts with a ""clean sheet of paper"" runs the risk of destroying some valuable organizational capabilities which have taken many years to build, this statement is False.
Business process reengineering that starts with a "clean sheet of paper" does not run the risk of destroying valuable organizational capabilities.
In fact, it can help to build on them. Business process reengineering evaluates existing processes, identifies what needs to be improved, and makes changes that can help an organization become more efficient and effective. It also helps to identify and eliminate any unnecessary steps in the process.
Additionally, it can help an organization to use its existing capabilities more efficiently, while also introducing new capabilities that can help to improve performance. By taking this approach, an organization can build on its existing capabilities, while also introducing new ones that can help to make the organization more competitive.
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For each of the following transactions for the Sky Blue Corporation: a. Collected $4,950 rent for the period October 1 to December 31, which was credited to Deferred Revenue on October 1. B. Paid $3,240 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount. C. Used a machine purchased on October 1 for $58,200. The company estimates annual depreciation of $5,820. Prepare the adjusting journal entries required on October 31. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field. ) View transaction list Journal entry worksheet Record the rent revenue earned during October. Note: Enter debits before credits Transaction General Journal Debit Credit
A. Collected $4,950 rent for the period October 1 to December 31, which was credited to Deferred Revenue on October 1:
No Journal Entry Required
B. Paid $3,240 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount:
Debit: Prepaid Insurance: $160
Credit: Insurance Expense: $160
C. Used a machine purchased on October 1 for $58,200. The company estimates annual depreciation of $5,820:
Debit: Depreciation Expense: $292
Credit: Accumulated Depreciation: $292
The adjusting journal entries on October 31 are as follows:
B. To record the insurance expense for the month of October:
Debit: Insurance Expense: $160
Credit: Prepaid Insurance: $160
C. To record the depreciation expense for the month of October:
Debit: Depreciation Expense: $292
Credit: Accumulated Depreciation: $292
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discuss the differences in madison’s current year inventory balance to prior year and industry inventory balances. what is one reason for the differences in inventory balance?
Madison Company's June 30 balance sheet Cash Accounts receivable, net; $160,000 in merchandise inventory; $300,000,000 490 000 in total current assets Equipment and machinery, net 810,000 overall assets $1 ,300,000 Accounts Payable and Stockholders' Equity Currently held liabilities $ 200,000 10% Bonds Payable 300,000 500,000 total liabilities Common stock, $5 par value is the stockholders' equivalent.
Account balances at the start of the company's fiscal year were $140,000 for accounts receivable and $260,000 for inventory. Every sale was on account.
The term "inventory" refers to both the raw materials utilised in production and the finished products that are offered for sale. Because the turnover of an organization's inventory is one of the main sources of revenue creation and, consequently, profitability for the firm's shareholders, it is one of the most significant assets a company has. Finished commodities, work-in-progress, and raw materials are the three different categories of inventory. A company's balance sheet classifies it as a current asset.
Both the raw materials required to make products and the products that are on hand for purchase are included in inventory .A company's balance sheet designates it as a current asset.
Inventory often loses value because of obsolescence, theft, decrease in consumer demand, damage, spoilage, misplacement and shifts in the market.
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