In performing a stocktake care must be taken with goods in transit. Which of the following statements is correct?
A) Stock on consignment is regarded as sold by the consignor.
B) Stock on consignment is included in the stock of the consignee.
C) Stock on consignment is included in the stock of the consignor.
D) Goods in transit should be included in both the purchaser's and the seller's inventory.
Correct Answer:
Verified
Q15: Inventory is normally classified in the balance
Q16: A physical stocktake is carried out:
A) only
Q17: Which of the following is not a
Q18: Which of the following is not included
Q19: Marlin Co. uses a periodic inventory
Q21: The main aspect of the perpetual method
Q22: Which of the following statements concerning the
Q23: Which statement relating to the moving average
Q24: Which of the following statements relating to
Q25: Products can be uniquely identified by using:
A)
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents