Megan, an agent for a department store, orders one hundred dresses from Sal's Clothing Shop for the Spring Blossom Sale. There is no specific agreement in the sale contract indicating when title will pass to the department store. The title will pass to the department store when
a. Megan signs the contract.
b. Megan and the Sal's Clothing Shop agent sign the contract.
c. Sal's Clothing Shop physically delivers the dresses to the department store.
d. Megan pays Sal's Clothing Shop for the dresses.
C
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The ________ distinguishes retail outlets based on whether independent retailers, corporate chains, or contractual systems own the outlet.
A. form of ownership B. product assortment C. wheel of retailing D. service level E. merchandise line
On the date of record for a dividend, the company ________
A) issues new shares of stock on that date B) disburses dividend payments to stockholders on that date C) records the dividend payable amount on that date D) determines who owns the shares of stock on that date
Which of the following testing techniques minimizes the possibility that the auditors will contaminate a client's financial records?
A. Tagging and tracing transactions. B. Controlled programs. C. Test data. D. Integrated test facilities.
Almaraz Corporation has two manufacturing departments-Forming and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: FormingFinishingTotalEstimated total machine-hours (MHs) 7,000 3,000 10,000Estimated total fixed manufacturing overhead cost$40,600$8,100$48,700Estimated variable manufacturing overhead cost per MH$1.30$2.80 Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. That predetermined manufacturing overhead rate is closest to:
A. $7.10 B. $4.87 C. $4.10 D. $6.62