Which of the Following Items Should NOT Be Included in Merchandise

question 92

Multiple Choice

Which of the following items should NOT be included in merchandise inventory?

• A) Goods that are damaged or obsolete
• B) Goods that have been consigned to another company
• C) Goods in transit shipped to another company FOB destination
• D) All of the above

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Definitions:

Periodic Tenancy

A leasing agreement that continues for successive periods (such as month-to-month or year-to-year) until either the tenant or landlord gives notice to terminate.

Tenancy at Will

A rental agreement that either party can terminate at any time without cause, provided proper notice is given.

Implied Warranty

An unwritten and unexpressed guarantee that a product or service complies with the standard quality and performance expected.

Habitability

The suitability of a building for living in, ensuring that it is safe, healthy, and fit for habitation.