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Which of the following would NOT be included as inventory on a company's balance sheet? A. Goods sent to another company to be sold on consignment (company is the principal) B. Goods sold FOB shipping still not shipped. C. Goods sold FOB destination still in - transit. D. Goods received from another company to be sold on consignment (company is the agent)

Which of the following would NOT be included as inventory on a company's balance sheet? A. Goods sent to another company to be sold on consignment (company is the principal) B. Goods sold FOB shipping still not shipped. C. Goods sold FOB destination still in - transit. D. Goods received from another company to be sold on consignment (company is the agent)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following would NOT be included as inventory on a company's balance sheet? A. Goods sent to another company to be sold on consignment (company is the principal) B. Goods sold FOB shipping still not shipped. C. Goods sold FOB destination still in - transit. D. Goods received from another company to be sold on consignment (company is the agent)
Transcribed Image Text:Which of the following would NOT be included as inventory on a company's balance sheet? A. Goods sent to another company to be sold on consignment (company is the principal) B. Goods sold FOB shipping still not shipped. C. Goods sold FOB destination still in - transit. D. Goods received from another company to be sold on consignment (company is the agent)
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