Which Terms Are Implied by the Sale of Goods Legislation

question 11

Multiple Choice

Which terms are implied by the sale of goods legislation into contracts for the sale of goods?

• A)Title, description, quantity and credit.
• B)Damages, description, fitness and quantity.
• C)Credit, sample, quality and damages.
• D)Title, description, quality and fitness.

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Definitions:

Work in Process Inventory

Goods that are in the process of being manufactured but are not yet completed.

Direct Materials

Raw materials that are directly traceable and attributable to the manufacturing process of a product.

Overhead Application Rate

The overhead application rate is a calculated rate used to apply or allocate overhead costs to individual units of production, based on a specific formula, such as machine hours or labor hours.

Overapplied Overhead

A scenario in which the overhead cost assigned to manufacturing exceeds the actual overhead expenses incurred.