When an Acquisition Is on an FOB Origin Basis, the Inventory

question 95

Multiple Choice

When an acquisition is on an FOB origin basis, the inventory and related accounts payable must be recorded in the current period if the goods were:

• A) shipped prior to the balance sheet date.
• B) both shipped and received prior to the balance sheet date.
• C) paid for in advance.
• D) received prior to the balance sheet date.

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Definitions:

Reward Areas

Regions of the brain, such as the nucleus accumbens, involved in the sensation of pleasure and reinforcement of behaviors.

Extraversion

A personality trait characterized by outgoingness, high energy, and engagement in social activities.

Neuroticism

A personality trait characterized by emotional instability, anxiety, moodiness, worry, and fears.

Behavioural View

A perspective in psychology that focuses on observable behaviors and the ways in which they're learned through interaction with the environment.