5 Any goods in transit which are shipped FOB shipping point should be included Select one: a. in no one’s inventory until they arrive at their destination. b. in the inventory of the shipping company. c. in the inventory of the seller. d. in the inventory of the buyer.

5 Any goods in transit which are shipped FOB shipping point should be included Select one: a. in no one’s inventory until they arrive at their destination. b. in the inventory of the shipping company. c. in the inventory of the seller. d. in the inventory of the buyer.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter9: Sales And Purchases

Section: Chapter Questions

Problem 7DQ

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Question

Any goods in transit which are shipped FOB shipping point should be included

Select one:

a. in no one’s inventory until they arrive at their destination.

b. in the inventory of the shipping company.

c. in the inventory of the seller.

d. in the inventory of the buyer.

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Similar questions

Which of the following is not a characteristic of FOB Shipping Point? A. The buyer pays for shipping. B. The buyer owns goods in transit. C. The point of transfer is when the goods leave the sellers place of business. D. The point of transfer is when the goods arrive at the buyers place of business.
Which of the following is not a characteristic of FOB Destination? A. The seller pays for shipping. B. The seller owns goods in transit. C. The point of transfer is when the goods leave the sellers place of business. D. The point of transfer is when the goods arrive at the buyers place of business.
4, please answer the following question, thanks
plz help solve
If title to merchandise purchases passes to the buyer when the goods are delivered to the buyer, the terms are a. consigned b. n/30 c. FOB shipping point d. FOB destination
46. Which of the following shipping terms wherein the buyer shoulder the freight on shipment of merchandise? O A. F.O.B Shipping Point B. F.O.B. Destination O c. c.O.D. Freight Collect O D. C.O.D. Freight Collect
When the buyer pays the freight costs, the entry to record the payment under a perpetual inventory system would include a debit to _______. Question content area bottom Part 1 A. Freight In B. Inventory C. Purchases Discounts D. Delivery Expense
pls answer thanks
QUESTION 8 If title to merchandise purchases passes to the buyer when the goods are shipped from the seller, the terms are a. FOB shipping point b. n/30 c. FOB destination d. consigned
Distinguish between FOB shipping point and FOB destination. Identify the freight terms that will result in a debit to Inventory by the purchaser and a debit to Freight-Out by the seller.
Question in picture :)
1.In consignment sales, what is the proper treatment of the consignment-related transportation cost paid by the consignor (1) upon shipment and (2) upon return of the consigned goods to the consignor? a. (1) inventory ; (2) inventory b. (1) expense ; (2) inventory c. (1) expense ; (2) expense d. (1) inventory ; (2) expense