Introduction to Accounting

General Accounting Principles

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The goods which are purchased for the purpose of resale are called

Purchases

Merchandise

Goods/Inventory

All of the above

Explanation:

A category of finished items that are sold to a retailer by a manufacturer or distributer and are eventually intended to be sold to consumers for profit.
The goods which are purchased for the purpose of resale are called as Purchases or Merchandise or Goods/Inventory

By: Munesh Kumari

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