1. When is a physical inventory is taken, what is included?

a) Accounts receivable

b) All of these

c) None of these

d) Work in process

e) Equipment

2. Goods held on consignment are

a) not available for sale.

b) included in the ending inventory of the business that holds them.

c) not owned by the company holding them.

d) an reported as an increase to cost of goods sold before they are sold.

e) included as part of no ones ending inventory.