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GalinKa [24]
3 years ago
5

A company implements the following policy regarding inventory in transit: Goods purchased are included in inventory records, whi

le goods sold are not included in inventory records. Management feels this policy is reasonable because it assigns inventory in transit to the party that initiated the transactions. Which of the following concepts is management not considering in implementing this policy?
a. The kelihood that inventory purchased or sold will be returned.
b. The quantity of the inventory involved in the transaction.
c. The party who has title to the inventory while in transit.
d. The materiality of shipping costs.
Business
1 answer:
a_sh-v [17]3 years ago
8 0

Answer:

c. The party who has title to the inventory while in transit.

Explanation:

If you sell or buy FOB shipping point, then you could use this type of accounting method. The title of the goods is transferred immediately (as soon as the goods leave the seller's premises). But if the transactions are FOB destination, the title of the goods is transferred only after the goods have been delivered.

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D check for a heartbeat
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2 years ago
In his blog, Max Gladwell says that our world is being profoundly changed
Vesnalui [34]

Answer:

B: Increasing use of social media

Explanation:

Social media has many effects, good and bad on our society. Now people know what happened 4 minutes ago in countries thousands of miles away. They can keep up with celebrities and more. You can see how this is drastically changing the way we live. Hope this helps!

3 0
2 years ago
Better Chocolates has a new project that requires $838,000 of equipment. What is the depreciation in Year 6 of this project if t
DIA [1.3K]

Answer:

d. $74,749.60 ( depreciation allowance @ 8.92% )

Explanation:

Under Modified Accelerated Cost Recovery System the Office furniture and fixtures, agricultural machinery and equipment, any other property not associated with another class is classified as 7-years property.

These assets are depreciated as follows:

Year         Percentage Depreciate

  1                              14.29%

  2                             24.49%

  3                             17.49%

  4                             12.49%

  5                             8.93%

  6                             8.92%

  7                             8.93%

  8                             4.46%

In the Sixth year depreciation will be charged by 8.92%.

Asset Value = $838,000

Depreciation Allowance in 6th year = $838,000 x 8.92%

Depreciation Allowance in 6th year = $74749.60

*Option for the given Mcqs are missing and written as follows:

Select one:

a. $80,411.60

b. $74,833.40

c. $89,108.00

d. $74,749.60

e. $89,327.08

4 0
3 years ago
Values are a. acceptable behavior as defined by the company and industry. b. enduring beliefs and ideals that are socially enfor
Mrrafil [7]

Answer:

b. enduring beliefs and ideals that are socially enforced.

Explanation:

Values are general beliefs and ideas shared by some culture or community, which is also acceptable and enforceable by the society.

The common belief of a common individual to take the decision of good or bad by his own, with some values related to ethics is all in context of values.

It impacts individuals in very significant manner as is clearly visible in an individual what kind of values does he carry.

Therefore, correct answer is:

b. enduring beliefs and ideals that are socially enforced.

3 0
2 years ago
Sheridan Company includes one coupon in each bag of dog food it sells. In return for eight coupons, customers receive a leash. T
Gnesinka [82]

Answer:

Note: <em>The options attached belongs to another question, so the answer is not included</em>

Premium liability at December 31, 2020 = ((510,000*60%) - $130,000) /  8*3

Premium liability at December 31, 2020 = 176,000 / 24

Premium liability at December 31, 2020 = 7,333.33

Premium liability at December 31, 2021 = 7333.33 + ((600000*60%) - 150000) / 8*3

Premium liability at December 31, 2021 = 7333.33 + 360,000 - 150,000

Premium liability at December 31, 2021 = 217,333.33

4 0
2 years ago
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