Describe the nature of inventory that would appear on the balance sheet of an accounting firm? Why

Question:

Describe the nature of "inventory" that would appear on the of an accounting firm? Why does this "inventory" appear on the Why aren't the costs simply expensed as incurred?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...