What is a bill of sale? What purpose does it serve?
A bill of saleprovides written evidence of one's title to tangible personal property. If a person's title is questioned, such evidence is highly desirable. If an individual buys a stock of merchandise in bulk, livestock, jewelry, furs, or any other relatively expensive items, the buyer should demand a bill of sale from the seller. The bill of sale serves two purposes:
1. If the buyer wishes to resell the goods, and the prospective buyer demands
proof of ownership, the bill of sale can be produced.
2. If any question arises as to whether the buyer came into possession of the
goods legally, the bill of sale is proof.?
You might also like to view...
When defining the problems you need to address in an analytical report, ask yourself:
A) How long should this report be? B) Why is this issue important? C) What is my purpose is writing this? D) Who will read the report? E) How can I use this report to gain credibility?
The ________ represents the sequence of steps in the accounting process completed during the fiscal period
a. matching principle b. fiscal year c. accounting cycle d. fiscal period
The hit ratio is the number of variables found to be significant by the discriminant analysis
Indicate whether the statement is true or false
Which dimension of the Leader Behavior Description Questionnaire focuses on getting the job done?
a. controlling b. coordinating c. directing d. structuring