The Responsibility for Verifying the Identity and Condition of Merchandise

question 62

Multiple Choice

The responsibility for verifying the identity and condition of merchandise:

• A)is the seller's.
• B)is the carrier's.
• C)depends on the nature of the contract between buyer and seller.
• D)is the buyer's.

---

Definitions:

Machine-Hours

Machine-hours are a measure of the amount of time a machine is operated, used in manufacturing to allocate costs to products.

Relevant Range

It refers to the span of activity within which the assumptions about fixed and variable cost behaviors hold true.

Contribution Margin

The amount of revenue left after deducting all variable costs associated with producing and selling a product, indicating how much contributes towards covering fixed costs and generating profits.

University Store

Not specific enough to provide a definition without context but generally refers to a retail outlet or bookstore operated by or on behalf of a college or university.