Goods in transit shipped FOB shipping point should be included in the inventory of the
A. buyer
B. seller
C. shipping company
D. none of these
Answer: A
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When a company factors its accounts receivable, it
A) enters into a lending agreement with the institution to receive cash on specific customer accounts. B) sells individual accounts to a financial institution. C) uses these accounts only as a collateral for a loan. D) transfers the accounts but retains title of the accounts until the loan is paid.
An activity can include only one work package.
Answer the following statement true (T) or false (F)
Which one of the following statements about costs of sales and operations plans is BEST?
A) Overtime wages are typically 50% of regular time wages, exclusive of fringe benefits. B) The cost of capital is not generally included in the inventory-holding cost. C) Fringe benefits, which are a part of regular-time costs, do not typically include health insurance and paid vacations. D) Hiring costs include the costs of advertising jobs, interviews, training programs for new employees, and initial paperwork.
Advantages of cafeteria plans include all of the following EXCEPT
A) simplicity of benefit administration. B) employees can select benefits that best match their needs. C) reduced taxes for employees. D) greater employer control over increasing benefit costs.