When Merchandise Is in Transit on Balance Date and Has

question 22

Multiple Choice

When merchandise is in transit on balance date and has been shipped FOB destination,it should be included in the inventory of:

• A) the buyer
• B) the seller
• C) the carrier
• D) it does not need to be included in any parties' inventory

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Definitions:

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Non-printing characters in word processing documents indicating the end of a paragraph.

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