Which One of the Following Should Be Included in Camden's

question 86

Multiple Choice

Which one of the following should be included in Camden's inventory at December 31, 2010?

• A) Goods shipped FOB shipping point on December 31, 2010, from Camden to a customer.
• B) Goods in the Camden's warehouse on December 31, 2010, waiting to be shipped to a customer.
• C) Goods ordered from one of Camden's suppliers on December 31, 2010, shipped FOB destination on December 31, 2010, which arrived January 2, 2011.
• D) Goods sold and shipped to a customer on December 31, 2010, terms FOB destination, which were delivered on December 31, 2011.

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Definitions:

Perfect Rationality

A decision strategy that is completely informed, perfectly logical, and oriented toward economic gain.

Nobel Prize

A set of annual international awards bestowed in several categories by Swedish and Norwegian institutions in recognition of academic, cultural, or scientific advances.

Herbert Simon

An American economist and cognitive psychologist known for his research in the fields of decision-making and artificial intelligence; he is credited with the concept of bounded rationality.

Perfectly Rational

The theoretical concept of making decisions based on complete information and logical, objective analysis.