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4 years ago

(True) or (False)? Goods in-transit to a buyer should be counted as buyer’s inventory if they were shipped FOB destination.

Business

1 answer:

Artemon [7]4 years ago

5 0

Answer:

Correct answer is FALSE

Explanation:

FOB Destination transfers ownership of the goods to the buyer after the goods reached to its destination (either in the buyer’s warehouse or any place stated in the contract to be delivered). Thus, goods in-transit under FOB destination still belongs to the seller and not to the buyer yet. Moreover, it should not be included to buyer’s inventory because the title of ownership of the said goods still belongs to the seller at the time of transit.

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Identify the definition for each term from the following list. 1. Payoff-matrix format. 2. Game-tree format. 3. A junction on a

VladimirAG [237]

Answer:

1. Payoff matrix : Strategic form

2. Game tree format : Extensive form

3. A junction on a game tree : Decision nodes

4. One of the final outcomes of a game tree : Terminal nodes

5. Divides the overall game tree into nested subgames before working backward from right to left : Backward induction

6. A mini-game within the overall game : Subgame

7. The process of backward induction that relies on both firms having perfect information about the decisions made in each subgame : Nash equilibrium.

Explanation:

Payoff matrix is the technique for decision making where goals are dependent on interaction with others. Nash equilibrium is a strategy in which every firm tries to choose best possible outcome keeping in view the decisions of other firms.

7 0

3 years ago

Justin Peter earned a salary of $30,000 during 2019. During the year, he was required by his employer to take several overnight

zalisa [80]

Answer:

The answer is: D) $31,500

Explanation:

If Justin didn't account his expenses to his employer, then any extra amount given to him should be added to his gross income. In Justin's case his gross income should be $31,500 ($30,000 + $1,500). On the other hand, if he would have accounted his expenses to his employer, then the $1,500 wouldn't be added to his gross income.

5 0

3 years ago

Dolce Co. estimates its sales at 180,000 units in the first quarter and that sales will increase by 18,000 units each quarter ov

Nataly_w [17]

Answer:

The answer is b) $5,319,000.

Explanation:

We have cash collection in third quarter will include:

+ 40% of sales in third quarter which is made in cash;

+ 70% of the remaining 60% of credit sales in third quarter which is collected within the quarter;

+ The remaining 30% of 60% credit sales in second quarter which is collected in third quarter.

We also have:

Sales in second quarter (units) = 180,000 + 18,000 = 198,000 units => Sales revenue = 198,000 x 25 = $4,950,000 => Cash collection in third quarter = 30% x (60%x 4,950,000) = $891,000;

Sales in third quarter (units) = 198,000 + 18,000 = 216,000 units => Sales revenue = 216,000 x 25 = 5,400,000 => Cash collection in third quarter = 0.4 x 5,400,000 + 0.7 x (0.6 x 5,400,000) = $4,428,000

=> Total cash collection in third quarter = 891,000 + 4,428,000 = $5,319,000

5 0

3 years ago

Read 2 more answers

Ace Company sells merchandise to a customer in the amount of $200 on credit, terms n/30. The entry to record this sale would inc

Eduardwww [97]

The journal entry to record the given sale of $200 on credit would include a debit to the bill receivables account.

<h3>What is a journal entry?</h3>

A systematic and chronological record of financial transactions that take place in a business organization during a given period is known as a journal entry.

Hence, the significance of journal entry is given.

Learn more about a journal entry here:

brainly.com/question/20421012

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6 0

2 years ago

Drag each tile to the correct box.

Fittoniya [83]

Answer:

Convenience checks: consumers use these to reduce their available credit in exchange for cash.

Installment loan: consumers make recurring fixed payments.

Introductory interest free: consumers can enjoy a set period of zero interest credit.

Revolving credit: consumers borrow an amount that they don’t have to pay off by a specific date.

Explanation:

In Business, credit can be defined as money or a loan facility agreed upon by a lender and a borrower, who is obligated to repay the lender at a specified date mostly with interest depending on the terms and conditions.

Credit generally decreases assets or increases liabilities and equity on the balance sheet of an organization.

3 0

3 years ago