If the Consignee Uses a Consignment-In Account and Has a Debit

question 89

Multiple Choice

If the consignee uses a consignment-in account and has a debit balance, the

• A) consignor has an obligation for that amount to the consignee
• B) consignee has an obligation for that amount to the consignor
• C) consignee reports the amount as a contra-asset account on the balance sheet
• D) consignor reports the amount as a contra-asset account on the balance sheet

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Definitions:

Inductance

A property of an electrical conductor by which a change in current in the conductor induces an electromotive force in both the conductor itself and in any nearby conductors by mutual inductance.

Voltage Drop

Voltage drop is the reduction in electrical potential across a component or conductor in an electrical circuit as current flows through it.

RLC Series Circuit

An RLC series circuit is an electrical circuit consisting of a resistor (R), an inductor (L), and a capacitor (C) connected in series, exhibiting both resistive and reactive properties.

True Power

The actual power consumed by an electrical device in watts, calculated as the product of voltage, current, and the cosine of the phase angle between them.