Goods in Transit Are Included in a Purchaser's Inventory

question 21

Multiple Choice

Goods in transit are included in a purchaser's inventory:

• A)At any time during transit.
• B)If the goods are shipped FOB shipping point.
• C)When the supplier is responsible for freight charges.
• D)If the goods are shipped FOB destination.
• E)After the half-way point between the buyer and seller.

Comprehend the implications of replacing old equipment with new technology on cost savings and investment returns.

Understand the impact of employee dismissals on both the individual and the organization.

Recognize the importance and methods of increasing employee involvement.

Comprehend the legal aspects of employee relations, including dismissal and rights under employment law.

---

Definitions:

Positive Profit

Positive profit occurs when a business's total revenues exceed its total costs, indicating financial gain from its operations.

Marginal Costs

Relates to the additional expenses faced when a business decides to increase its output or product quantity by one more unit.

Average Total Cost

The total cost of production divided by the quantity produced, representing the per-unit cost of production.

Price-Taker Industry

A sector in which businesses must accept the prevailing prices in the market as they have no influence over setting them.