Final answer:
An inventory is a formal list of all the property of a business, or the property so listed. It represents the value of a company's assets on a specific date and is an important component of financial statements. The correct answer to the question is b. inventory.
Step-by-step explanation:
The correct answer to the question is b. inventory.
An inventory is a formal list of all the property of a business, or the property so listed. It includes the goods or materials that a business owns and is available for sale or use in production. The inventory represents the value of these assets on a specific date and is an important component of a company's financial statements.
For example, a grocery store would have an inventory that includes all the items it has in stock, such as fruits, vegetables, canned goods, beverages, and other products that are available for sale.