With a Simple Delivery Contract,when Does Title Transfer to the Buyer

question 29

Multiple Choice

With a simple delivery contract,when does title transfer to the buyer?

• A) When money is transferred
• B) When the items are delivered
• C) When the buyer takes possession
• D) One day after goods are identified to the contract
• E) When goods are identified to the contract

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Definitions:

Mortgage Payable

A long-term liability account that records the amount owed on a property mortgage.

Social Security Tax

Taxes collected to fund the Social Security program, providing benefits for retirees, the disabled, and children of deceased workers.

Federal Income Tax

A tax levied by the United States Internal Revenue Service on the annual earnings of individuals, corporations, trusts, and other legal entities.

Federal Unemployment Tax

This is a tax paid by employers based on the wages paid to employees, intended to fund state workforce agencies.