What Is Estimated Time En Route (ETE)

question 72

Multiple Choice

What is estimated time en route (ETE) ?

• A)the time remaining before reaching a destination using the present speed and is typically used for navigation applications
• B)the time of day of an expected arrival at a certain destination and is typically used for navigation applications
• C)a device that measures the acceleration (the rate of change of velocity) of an item and is used to track truck speeds or taxi cab speeds
• D)a GPS technology adventure game that posts the longitude and latitude location for an item on the Internet for users to find

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Definitions:

Merchandise Inventory

Represents the goods a company intends to sell to customers that are purchased and stored, evaluated as a current asset on the balance sheet.

F.O.B. Shipping Point

A term used in shipping contracts indicating that the buyer takes ownership and responsibility for goods once they leave the seller's premises.

F.O.B. Destination

A shipping term indicating that the seller retains risk and ownership of goods until they are delivered to the buyer's location.

Accounts Payable

A bookkeeping record indicating a business's need to settle a short-term financial debt owed to its lenders or vendors.