Question

Are excessive overpopulated bird in the zoo considered to be a trading inventory if being sold.

Are excessive overpopulated bird in the zoo considered to be a trading inventory if being sold.

Homework Answers

Answer #1

No, the excessive overpopulated bird in the zoo will not considered as a trading inventory if being sold.

This is because trading inventory are those assets which are held in the ordinary course of business for the purpose of sale.

In this case the birds are being sold because the zoo has excessive number of birds. The zoo never held the birds with the purpose of selling them. The birds are being sold mainly to reduce their population and to ensure that their number is reasonable and not excessive.

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