Goods in transit are automatically included in inventory regardless of whether title has passed to the buyer.
Answer the following statement true (T) or false (F)
False
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________ refers to jurisdiction to hear a case because of jurisdiction over the property of the lawsuit
A) In rem jurisdiction B) Quasi in rem jurisdiction C) Private jurisdiction D) In personam jurisdiction
External directives are the policies and procedures that help ensure that management directives are carried out.
Answer the following statement true (T) or false (F)
Summarize in your own words the objective of a Trust Services engagement.
To become more familiar with these assurance services opportunities, conduct an Internet search to locate information about Trust Services Principles and Criteria and use that information to answer the following questions:
Batch Department store sold a refrigerator to Conrad for his home. Conrad agreed to installment payments and Batch had him sign a security agreement. Batch did not file a financing statement. After having the refrigerator in his home for a time, Conrad quit making payments and sold it to Backus for use in her home. Backus was unaware that Conrad still owed Batch for the refrigerator. Batch is now seeking to get paid for the balance owed or to repossess the refrigerator. Which of the following statements is correct?
A. Batch can repossess the refrigerator from Backus, and Backus has the right to recover her money from Conrad. B. Batch can repossess the refrigerator from Backus, but Backus has no right to recover her money from Conrad. C. Batch has no right to repossess the refrigerator from Backus. D. Batch has the legal right to collect from Backus the unpaid balance.