27- Goods in transit are recorded as closing inventory of the Buyer when a. When the goods are dispatched to the buyer b. The order for the goods are placed with the seller c. The goods are purchased on FOB destination Port terms and the goods reaches buyers port d. The goods are purchased on FOB Shipping Port terms and the goods have left the sellers place
27- Goods in transit are recorded as closing inventory of the Buyer when a. When the goods are dispatched to the buyer b. The order for the goods are placed with the seller c. The goods are purchased on FOB destination Port terms and the goods reaches buyers port d. The goods are purchased on FOB Shipping Port terms and the goods have left the sellers place
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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27- Goods in transit are recorded as closing inventory of the Buyer when
a.
When the goods are dispatched to the buyer
b.
The order for the goods are placed with the seller
c.
The goods are purchased on FOB destination Port terms and the goods reaches buyers port
d.
The goods are purchased on FOB Shipping Port terms and the goods have left the sellers place
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