Complete the following table to show how FOB terms apply to merchandise inventory purchased by a merchandiser
FOB Term When does the title to the goods transfer to the buyer? Who pays the freight?
Shipping Point
Destination
What will be an ideal response
FOB Term When does the title to the goods transfer to the buyer? Who pays the freight?
Shipping Point When the goods leave the seller's place of business (shipping point) Buyer
Destination At the delivery destination point Seller
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Which of the following is not a way management obtains evidence regarding the effectiveness of internal control over the accounting system?
a. Performing a walkthrough of the accounting system. b. Making inquiries of banks and attorneys. c. Reviewing system flowcharts. d. Taking plant and operational tours.
List the tables with primary keys, attributes, and foreign keys that implement the following UML Class diagram given the accompanying list of attributes. Identify primary keys with PK and foreign keys with FK.
Attributes:Field IDField LocationField NameGame DateGame NumberLeague IDLeague NameLeague SportNumber of fields assigned to this leagueNumber of players on teamPlayer AgePlayer AveragePlayer IDPlayer NameScore of this team in this gameTeam IDTeam Name
What will be an ideal response?
Hussain, Inc.'s income statement and other financial information for the current year is presented below.Hussain, Inc.Income StatementFor the year ended December 31Sales revenue $159,131Cost of goods sold 64,360Gross profit 94,771Selling, general, and administrative expenses 11,385Operating income 83,386Interest expense 2,847Income before taxes 80,539Income tax expense 3,414Net income$ 77,125Balance sheet information:Current assets$250,000Noncurrent assets 500,000Current liabilities50,000Long-term debt100,000Required:Part a. Perform vertical analysis of the income statement. (Round to the nearest whole percentage.)Part b. Calculate the debt-to-assets ratio. (Round to two decimal places.)Part c. Calculate the times interest earned ratio. (Round to two decimal places.)Part
d. Evaluate the company's solvency. What will be an ideal response?
An advisory opinion has the same effect as an order resulting from adjudications
a. True b. False