When a Perpetual System Is in Used and Transportation Cost

question 68

Multiple Choice

When a perpetual system is in used and transportation cost is incurred to obtain inventory,the transportation cost is:

• A) added to Inventory.
• B) reported as Selling, General & Administrative Expense on the income statement.
• C) reported as a contra-account that is subtracted from sales revenue when determining net sales.
• D) deducted from the Cost of Goods Sold when determining gross profit.

Understand the legal framework governing international trade and investment, including the role of U.S. laws in regulating foreign and domestic companies.

Comprehend the jurisdiction and legal principles applicable under international treaties, including the Outer Space Treaty.

Be familiar with the mechanisms available for dispute resolution in international business, including arbitration and the court system.

Recognize the implications of space exploration laws on corporate activities in space, including jurisdiction and property rights.

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Definitions:

Classical Conditioning

A pairing method in education where two stimuli are constantly linked; the response, originally triggered by the second stimulus, is over time triggered by just the first stimulus.

Conditioned Stimulus

A previously neutral stimulus that, after becoming associated with an unconditioned stimulus, triggers a conditioned response.

Drug Injection

The act of administering a drug into a person's body using a syringe and needle, typically intravenously, intramuscularly, or subcutaneously.

Conditioned Response

A learned response to a previously neutral stimulus that has been repeatedly associated with an unconditioned stimulus.