When an Acquisition Is on an FOB (Freight on Board)origin

question 17

Multiple Choice

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

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

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Definitions:

Social Interaction

Social interaction involves the dynamic exchanges between two or more individuals, shaping relationships and influencing social structures.

Face-To-Face

Direct interaction between two or more people in the same physical space.

Expressions

Ways in which thoughts, feelings, and ideas are conveyed or manifested, often through language, art, or gestures.

Campus Mall

An open, often pedestrian, area of a college or university campus that serves as a central gathering place for students and faculty.