Goods in Transit Should Be Included in the Inventory of the Buyer

question 175

Multiple Choice

Goods in transit should be included in the inventory of the buyer when the

• A) public carrier accepts the goods from the seller.
• B) goods reach the buyer.
• C) terms of sale are FOB destination.
• D) terms of sale are FOB shipping point.

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Definitions:

Crop-Lien System

A credit system widely used in the Southern United States after the Civil War, where farmers used their crops as collateral for loans, leading to cycles of debt and poverty.

Southern Farmers

Generally refers to agricultural workers and landowners in the Southern United States, historically dependent on crops like cotton and tobacco, and deeply affected by the Civil War and subsequent economic changes.

Hatch Act

A U.S. federal law enacted in 1939 that restricts the political activities of government employees in order to ensure the neutrality of the public service.

Agricultural Science

The study of the sciences related to the production of crops and livestock, and management of soil and water resources.