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vodka [1.7K]
2 years ago
6

Which of the following items should be included in a company's inventory at the balance sheet date? A) Goods sold to a customer

that are being held for the customer to call for at his or her convenience. B) Goods sold to a customer, that were shipped f.o.b. shipping point. C) Goods in transit, which were purchased f.o.b. shipping point. D) Goods received from another company for sale on consignment.
Business
2 answers:
Nikitich [7]2 years ago
8 0

Answer:

The correct answer is C.

Explanation:

In the inventory of a company, when it is on the balance sheet date, goods in transit purchased at an f.o.b. shipping point must be included.

Goods in transit are goods that are not physically in the warehouse but have already been paid for by the company. This already acquired merchandise is property of the company, only that its arrival is only waited for to the deposit.

Have a nice day!

matrenka [14]2 years ago
4 0

Answer:

C) Goods in transit, which were purchased f.o.b. shipping point

Explanation:

Inventory is indicated as current asset in balance sheet. Goods in transit means goods are on the way for delivery which means customers can place order while waiting for delivery. F.O.B (free on board) shipping point means the receiver will bear any loss or damage incurred during shipping. The goods in transit belongs to the receiver which makes it an asset.

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sweet-ann [11.9K]

Answer:

d, all states, as no state requires at least two members to create an LLC

Explanation:

The requisite of two members to create an LLC was removed from all states in the USA. Now, all states allow a single-member LLC. Massachussets was the last one to eliminate that requisite in 2003.

Maybe this change in laws was because owners cheated on that requisite by placing as the two members (owners) a man and his wife, or a woman and her husband, or some other person (in direct relation with the owner) which was just placing the name but the company actually belonged to only one member.

4 0
2 years ago
Rex Garner recently made an offer to Harry Barns for the sale of his shop using a registered letter. The offer says that Harry "
NeX [460]

Answer:

Stipulation.

Explanation:

In this scenario, Rex Garner recently made an offer to Harry Barns for the sale of his shop using a registered letter. The offer says that Harry "may accept by registered letter." This detail is an example of a stipulation.

A stipulation in business can be defined as a formal legal acknowledgment and agreement made between two or more groups of people (parties) before entering into a contract or business deal.

This ultimately implies that, a stipulation is a condition or clause used to convey agreement in a contract between two or more groups of people. The statement "may accept by registered letter." in the offer made by Rex Garner to Harry is a stipulation, conveying the message that Harry can only show agreement by using a registered letter as well.

5 0
2 years ago
The ___________ must be the basis for a project cost estimate if you plan to create a cost baseline and use earned value managem
kogti [31]

The work breakdown structure must be the basis for a project cost estimate if you plan to create a cost baseline and use earned value management as part of monitoring and controlling costs.

Work can be made more manageable and approachable by using a common productivity strategy called task breaking. The Work Breakdown Structure (WBS), one of the most significant projects management papers, is the tool that applies this technique to projects. It does it on its own, integrating scope, cost, and schedule baselines to guarantee project plans are in sync.

The Work Breakdown Structure is a "deliverable-oriented hierarchical decomposition of the work to be completed by the project team," according to the PMI Project Management Book of Knowledge (PMBOK). WBS can be divided into two categories: deliverable-based and phase-based. The deliverable-based strategy is the most popular and preferred method. The Elements listed in the first Level of the WBS are the primary distinction between the two methodologies.

Learn more about project costs here brainly.com/question/15518327

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3 0
1 year ago
Dana, Inc. recently completed 56,000 units of a product that was expected to consume 4 pounds of direct material per
AysviL [449]

Answer:

$34,000 Units

Step by Step Explanation:

Direct Material Quantity Variance

= SP x (AQ – SQ Allowed)

Therefore:

SQ allowed: $56,000 units x 4 lbs = $224,000 lbs.

Direct Material Quantity Variance: $8.50 x ($228,000 lbs – $224,000 lbs) = $34,000 Units

The direct material quality variance is $34,000 Units

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Explain how a command economy differs from the<br> other economic systems.
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