Where Should Goods in Transit That Were Recently Purchased F

question 35

Multiple Choice

Where should goods in transit that were recently purchased F.o.b. destination be included on the balance sheet?

• A) Accounts payable.
• B) Inventory.
• C) Equipment.
• D) Not on the balance sheet.

---

Definitions:

List Interface

An ordered collection in Java that allows for the storage and manipulation of elements.

Repetition

A concept in programming that involves executing a block of code multiple times, typically through loops such as while, for, and do-while loops.

Set Interface

An interface in Java Collections Framework representing a collection that contains no duplicate elements, designed for storing unique elements.

Duplicate Elements

Repeating or identical items within a collection or set of data.