The Anatomy of a Great which of the following is not a legitimate business reason for taking a physical inventory?
It is not legal to take a physical inventory.
No it is not. It is a valid way to record the value of things, so when one of your things goes missing it might be easier to figure out how much it is worth than if you just took a physical inventory.
This is why the law is so often written on paper and signed by a clerk. It is in most cases easier to sign an inventory on paper than in person, and most people can even easily get a duplicate on-line. However, just because something is a legitimate business reason doesn’t mean it’s something you should do.
There are legitimate reasons to take a physical inventory. If you have a home, you should probably make sure you have a home inventory. If you have a car, you should make sure you have a car inventory. But the fact that you want to take a physical inventory should not be the reason you do it. A physical inventory is a legitimate means for you to record the value of your things.
I once asked a friend of mine, who has a home, if he took a physical inventory. He responded, “No.” I have to agree with him. Take a physical inventory is not a legitimate business reason to take a physical inventory.
Not to get too technical, but a physical inventory is what you do to your own home when you don’t want to be bothered by the service company that comes out to your house to do it. As a matter of fact, the reason I recommend this is to make sure you have the right paperwork for your home, because you should always have a proper copy of the business plan you signed when you bought the home.
In my opinion, the physical form of any home business should be the business plan, not a “take a physical inventory” form. If you have the business plan, it should be the only document that you have to show for a business before you can get your own office or rent space. If its not the business plan, then you’re just going to have to pay for the services of a company to do the physical form so you can get the business.
We don’t have a business plan. We have a contract with the home builder. The fact that we have a contract with the home builder is, in our view, a legitimate business reason for taking a physical inventory. In the same way that having a contract with the bank is a legitimate reason to take a physical inventory, you should be able to go to a home inspector to get the construction documents for a house and get a copy of the contract.
Of course, we use the term “contract” loosely. The home we’re looking at has a contract. The seller signed a contract with the builder. They agreed to the conditions of the contract (and the builder agreed to the conditions) and the home we’re looking at has all the documents they need to build the house. The fact that the seller signed the contract with the home, and the home is the home, is not a legitimate reason for taking a physical inventory.
The seller’s signature on a contract does not have to be on the contract. A buyer can sign a contract for a home without signing the contract with the seller. For example, if a buyer has signed a contract with a home and the home is the home, the signature of the buyer on the contract is not needed.