When goods are sold FOB shipping point, ownership of the inventory is passed when the
A) inventory arrives at the destination
B) purchase order for the inventory is complete
C) inventory is shipped to the buyer
D) inventory sold is segregated from the seller's other inventory
C
You might also like to view...
In the event of a debt restructuring, the required disclosures are only for the related income tax effects associated with the debt
Indicate whether the statement is true or false
The ________ supports a basic electronic mail facility by providing a mechanism for transferring messages among separate hosts
A. SNMP B. SSH C. HTTP D. SMTP
Joetz Corporation has gathered the following data on a proposed investment project (Ignore income taxes.): Investment required in equipment$36,500? Annual cash inflows $8600? Salvage value of equipment$0 Life of the investment 15yearsRequired rate of return 10%The company uses straight-line depreciation on all equipment. Assume cash flows occur uniformly throughout a year except for the initial investment. Use Exhibit 13B-1 and Exhibit 13B-2 above to determine the appropriate discount factor(s). The internal rate
of return of the investment is closest to: A. 26% B. 22% C. 20% D. 24%
During September at Renfro Corporation, $65,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $4,000. The journal entry to record this requisition would include a debit to Manufacturing Overhead of:
A. $61,000 B. $65,000 C. $4,000 D. $0