Texas Inc sold merchandise to Fagin Corp on December 28, 2014, with shipping terms of FOB destination. Fagin Corp received the merchandise on January 3, 2015 . Which one of the following statements is true?
a. Texas should record sales revenue on December 28, 2014.
b. Fagin Corp. should pay the transportation costs.
c. Fagin Corp. should include the merchandise in its inventory at December 31, 2014.
d. Fagin Corp. should record a liability for the purchase on January 3, 2015.
d
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The natural business year
A) is a fiscal year that ends when business activities are at its lowest point. B) is a calendar year that ends when business activities are at its lowest point. C) is a fiscal year that ends when business activities are at its highest point. D) is a calendar year that ends when business activities are at its highest point.
Organizations use blogs to develop relationships, build brands, and create virtual ________
A) communities B) sales C) products D) competition
Risk is the uncertainty about the return we will earn.
Answer the following statement true (T) or false (F)
Neal's life insurance policy has a cash value of $100,000. He wants to purchase a second home to rent out. How much can Neal borrow against the surrender value of his life insurance policy?
A) $50,000 B) $75,000 C) $95,000 D) $100,000