Which Transaction Would Be Included in the Year End Inventory

question 79

Multiple Choice

Which transaction would be included in the year end inventory?

• A)Goods received on consignment at year end.
• B)Goods shipped out on consignment at year end.
• C)Goods shipped out F.O.B. shipping point at year end.
• D)Goods received after year end, shipped FOB destination.

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Definitions:

Privateering

The practice of commissioning private ships to capture enemy ships during wartime, authorized by a government through letters of marque.

Trade

The exchange of goods and services between individuals, businesses, or countries, which can be domestic or international in scope.

Piracy

The act of attacking and robbing ships at sea; also refers to the unauthorized use or reproduction of another's work, especially in relation to copyrighted materials.

Unsafe Sea Corridors

Maritime routes that pose significant risks to ships due to factors like piracy, armed conflict, or natural hazards.