Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi I need the below questions answered ASAP before 10:00 for MBA 560 financial and managerial accounting. 1. When inventory is shipped from the seller

Hi I need the below questions answered ASAP before 10:00 for MBA 560 financial and managerial accounting.

1. When inventory is shipped from the seller to the buyer with shipping terms of FOB destination:

A. the goods will be included in the inventory of the seller until they reach their destination.

B. the goods will be included in the inventory of the buyer and the seller while they are in transit.

C. title passes from the seller to the buyer when the goods leave the seller's shipping dock.

D. the buyer owns the goods while they are in transit.

2. Company A has inventory out on consignment and held for sale by Company B. Which Company will include the goods in their inventory?

A. Company A

B. Company B

C. Either Company A or Company B

D. Cannot be determined from the facts

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Ethics In Finance

Authors: John R. Boatright

3rd Edition

ISBN: 1118615824, 978-1118615829

More Books

Students also viewed these Finance questions