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:

SST

Sum of Squares Total (SST) refers to the total variance in a set of observations, measuring the overall deviation of individual cases from the mean.

SSB

Sum of Squares Between groups; a measure used in statistical analysis to quantify variations among group means.

SSE

Stands for Sum of Squared Errors, a measure used to quantify the discrepancy between the data and an estimation model.

Two-Tail

In statistics, a two-tail test is a method in which the critical area of a distribution is two-sided and tests whether a sample is greater than or less than a certain range of values.