Asked by Kaohulani Palakiko on Apr 24, 2024

verifed

Verified

A stove in the hands of a manufacturer is classified as ________;if it is used in a restaurant it is ________;if it is used in a home it is classified as ________.

A) equipment;inventory;consumer goods
B) inventory;equipment;consumer goods
C) consumer goods;inventory;equipment
D) equipment;consumer goods;inventory

Manufacturer

A company or individual that produces finished goods from raw materials in large quantities using tools, machinery, and labor.

Restaurant

A business establishment where meals or refreshments may be purchased by consumers.

Consumer Goods

Items that are purchased for personal or household use, rather than for manufacturing or resale purposes.

  • Differentiate between types of collateral and their specific handling under the UCC.
verifed

Verified Answer

EV
Edgar ValdezMay 02, 2024
Final Answer :
B
Explanation :
It is important to note that an item such as a stove could,in different situations,be classified as inventory,equipment,or consumer goods.In the hands of the manufacturer or an appliance store,the stove is inventory.If it is being used in a restaurant,it is equipment.In a home,it is classified as consumer goods.