1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Xelga [282]
3 years ago
13

Angus Company agreed to sell goods for Longhorn Company on consignment, but wasn't willing to take ownership of the goods in cas

e they were difficult to sell. Which of the following statements is true?
A. Angus owns the inventory and should report It on its balance snoot.
B. Long hum owns the inventory but should not report it on its balance sheet because Angus actually holds the inventory
C. Angus owns the inventory since possession is nineteenths of the law. but should not report it on its balance sheet.
D. Longhorn owns the inventory and should report it on its balance sheet.
Business
1 answer:
vladimir2022 [97]3 years ago
3 0

Answer: D. Longhorn owns the inventory and should report it on its balance sheet.

Explanation:

Goods to be sold on consignment for a company means a company is selling goods for another company and will be paid for their services.

In that case, the company being sold for will retain the ownership of the goods because the company that is selling it for them is simply providing a service.

Angus in this scenario are simply holding the goods to sell it and so do not own the goods. Longhorn should therefore record it in their own books as inventory.

You might be interested in
A check list should be based on past____?
Jet001 [13]
Is there any choices?
6 0
3 years ago
Read 2 more answers
Round Hammer is comparing two different capital structures: An all-equity plan (Plan I) and a levered plan (Plan II). Under Plan
asambeis [7]

Answer:

EPS of Plan I = $3.19

EPS of Plan II = $2.82

Explanation:

Under Plan I:

Plan I's Earning per share (EPS) = EBIT ÷ Number of shares = $575,000 ÷ 180,000 = $3.19

Under Plan II:

Interest = $2,600,000 × 8% = $208,000

Earning after Interest = EBIT - Interest = $575,000 - $208,000 = $367,000

Plan II's EPS = $367,000 ÷ 130,000 = $2.82

5 0
2 years ago
Managers must be able to determine whether their workers are doing an effective and efficient job, with a minimum of errors and
Katarina [22]

Answer:

a. True

Explanation:

This system of performance review is a 360-degree review or feedback process where a given employee receives inputs on her performance (or other criteria such as behaviors, competencies and results achieved) from different employees with varying working relationships and at different levels.  The idea is to ensure that the employee's performance is not partial or biased.  Using this system, the employee who may be a manager will have her performance reviewed by employees below, above, and on the same level with her.

6 0
3 years ago
The term inflation is used to describe a situation in which
photoshop1234 [79]

Answer:

The correct answer is option b.

Explanation:

Inflation refers to the continuous and sustained growth in the general price level. As the price level rises, it reduces the purchasing power or value of cash balances held by the consumers to reduce. This causes real income to decline.  

A certain level of inflation is desirable in an economy to promote growth but a high rate of inflation is harmful. Inflation can be of several types such as  

  • Demand-pull inflation
  • Cost-push inflation

There are several measures used to calculate inflation, for instance, the consumer price index. To correct inflationary pressures, a government uses contractionary fiscal and monetary policy.

6 0
3 years ago
7. Preparing Additional Employment Documents Although the résumé and cover message are the major tasks during your employment se
Bogdan [553]

Answer:

A list of graduation dates

A list of beginning and ending dates of employment

A card with any vital statistics that are not on your résumé

Explanation:

When providing additional information in the recruitment process, accurate and relevant information shows you are professional and have good communication skills. Making your chances of landing the job better.

Relevant information includes accurate dates of graduation and previous employment. Ensure these records are consistent accross all documents presented. Disparity will be perceived as lack of transparency.

Also a card with vital statistics not on your resume should be prepared. These can include achievements in past job roles. For example: I introduced a software that automated inquiry process and reduced cost by 30%.

3 0
3 years ago
Other questions:
  • Workman Software has 6.4 percent coupon bonds on the market with 18 years to maturity. The bonds make semiannual payments and cu
    15·1 answer
  • 4. Why would someone choose to remain a nonemployer?
    5·1 answer
  • Select the items below that describe why scarcity exists.
    8·2 answers
  • Anthony, the plant manager, was talking with another manager about tim, the lead engineer in the corporate r & d department.
    10·2 answers
  • At one school, the average amount of time tenth-graders spend watching television each week is 21.6 hours. the principal introdu
    12·1 answer
  • Replenishment lead time is _________.a. The time between placing an order and receiving the materials. b. The amount of time the
    9·1 answer
  • A law firm, Morris & Morris, accumulates costs associated with individual cases using a job order cost system. On August 5,
    13·1 answer
  • You are ordering $210 of goods from a vendor. The vendor offers a 3% (only
    6·1 answer
  • On August 22, Year 4, Martha purchases a computer to use in her childcare business. She sells the computer on December 28, Year
    13·1 answer
  • A rectangular floor measures $a$ feet by $b$ feet, where $a$ and $b$ are positive integers with $b > a$. An artist paints a r
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!