the british isles (england ,scotland ,wales and northern ireland) were governed by the british government only. they devolved power to each individual country-scottish, welsh and irish assemblies which gave each certain but not total powers of government for each. hence devolution.
In business accounting, merchandising inventory refers to merchandise procured by a merchant for resell. Merchandising companies sell products such as clothing, auto parts and other tangible products. Merchandising inventory is different from manufacturing inventory, because the later constitutes products made directly by the manufacturer.
Accounting for Inventory. Inventory is listed on a balance sheet as an asset. As inventory leaves the company, another asset category, accounts receivable, rises. Selling inventory results in a profit to the business, provided it is not sold at a loss.