Future Business Leaders of America (FBLA) Marketing Practice Test

What term represents the assortment and quantities of products held for sale?

1. Inventory

2. Stock

3. Catalog

4. Merchandise

The correct answer is: Inventory

The term that represents the assortment and quantities of products held for sale is inventory. Inventory encompasses all the goods a business keeps on hand for the purpose of resale, including the various products, quantities, and types that a company makes available to its customers. Having a well-managed inventory is crucial for businesses to meet customer demand while minimizing costs associated with excess stock. While stock can refer to products available for sale, it is often used interchangeably with inventory but may not cover the complete accounting aspect that inventory does. A catalog typically refers to a detailed listing or record of products available, often used for marketing purposes, rather than the actual quantities on hand. Merchandise is a broader term for the goods that are bought and sold, but it does not specifically refer to the inventory held by a business. Therefore, inventory is the most accurate term in this context.