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what is stock and inventory with difference between also?

Posted by Nutan Singh 5 years, 6 months ago

CBSE > Class 11 > Accountancy

1 answers

Meghna Thapar 5 years, 6 months ago

Inventory (American English) or stock (British English) is the goods and materials that a business holds for the ultimate goal of resale (or repair). In the context of services, inventory refers to all work done prior to sale, including partially process information. Inventory is the collection of unsold products waiting to be sold. Inventory is listed as a current asset on a company's balance sheet.

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