Which of the following statements are correct?
I. Inventory includes raw materials, finished goods and work-in-progress.
II. Inventory is a part of the working capital.
III. Inventory includes goods likely to be purchased.

A. tax compliance. B. financial audit. C. cost ascertainment. D. profit analysis.

A. hospitals B. oil refing firms C. transport firms D. brick laying firms

A. two ways B. three ways C. four ways D. several ways

A. imputed cost B. historical cost C. sunk cost D. shutdown cost