Which of the following account will be least likely involved in the purchasing sub-process of the purchasing and disbursement cycle? Inventory Prepaid expenses Accounts payable Cash in bankv

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A: The answer is stated below:

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A:

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.