Define Freight-in.

Q: Define commodity IT asset.

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Q: Explain the difference between the terms FOB destination and FOB shipping point.

A: Inventory at the end of financial year to be shown in balance sheet , should means the inventory ,…

Q: Define inventory.

A: Inventory: Inventory consist of total of three components: raw material, work-in-process and…

Q: are external and internal agents modeled in REA diagrams for transactions that involve purely…

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Q: What is an operating segment?

A: Operating segment: It is defined as providing information about the business actives with an…

Q: What is the link that connects the schedule of cost of goods manufactured to the schedule of cost of…

A: Schedule of Cost of goods manufactured:   Cost of goods manufactured can be defined as the total…

Q: What does the Work-in-process inventory consist of?

A: Work-in-process inventory consist of materials which are partially completed in the production…

Q: Describe about concept of the GOODS ON CONSIGNMENT?

A: Inventory:   Inventory refers to the raw materials, work-in process, and the finished goods…

Q: What can be understood from “Segment Reporting"?

A: Financial reporting:   It refers to the disclosure of financial results of an organization for a…

Q: Define goods in transit? Explain?

A: Goods are the inventory of the seller and for purchaser, the goods can be the raw material, if the…

Q: Examples of transaction costs

A: Transaction costs are the costs which occur during buying or selling of services and goods. They are…

Q: Define warehouse receipt financing

A: A warehouse receipt is a document of proof about the ownership of goods kept in that warehouse.

Q: What are the main differences between fob destination in fob shipping point?

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Q: How to Determine the Transaction Price?

A: Definition:   Transaction price: Transaction price refers to the price that a corporation receives…

Q: Define Sales revenue.

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Q: Cost of goods to e: Price of goods to in Ocean freight insu

A: There are different terminologies in the international commercial market which defines the…

Q: Explain the term Voluntary Conveyance

A: Voluntary Conveyance: Voluntary conveyance is defined as an elective transmission of title from one…

Q: Define sales allowance.

A: Sales allowances: When a customer agrees to buy defective goods or improperly made then seller gives…

Q: What is a transaction price?

A: Transaction price: It is the price of a service or a good which is expressed relative to the similar…

Q: A grouping of activities concerning freight transportation and related services within a defined and…

A: When multiple modals are used it is known as intermodalism. So, option 2 is incorrect. Massification…

Q: Describe the purpose of raw material subsidiary ledger.

A: Raw material subsidiary ledger: This ledger refers to the individual account, which records the all…

Q: What are the differences between FOB shipping and FOB destination?

A: FOB shipping: FOB (Free On Board) shipping point is one of the terms of inventory sale. Under the…

Q: What is the initial cost for transporting the goods as shown in the below table?

A: As question does not specify from which method to apply, SME will solve using North West Corner…

Q: Describe how changes in the demand, ordering cost,or holding cost affect the EOQ.

A: Conceptual base- Economic Order Quantity (EOQ) is the order quantity that minimizes total inventory…

Q: Explain Bill-and-hold concept.

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Q: Define transfer price

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Q: Describe standard cost system.

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Q: Define the term product pricing.

A: Managerial accounting:   Managerial accounting is more focused towards analyzing information and…

Q: What purpose does a purchasing department serve?

A: Purchasing Department: The purchasing department accommodates the organization for the inventory…

Q: What is the process of transaction costs?

A: Transaction cost: Transaction cost refers to a cost that is incurred in the process of carrying out…

Q: Describe consumption and production externalities.

A: An externality is a benefit or cost imposed on third party who had not agree to incur the monetary…

Q: Define marking-to-market process.

A: Marking to market process is a vital process in the financial investment industry which has been…

Q: Define the term physical inventory.

A: Physical inventory: It is process in which a company verifying its inventory by counting them…

Q: Define total carrying cost (TCC)

A: TOTAL CARRYING COST (TCC)-               It is one among-st the prices that connected connected with…

Q: Define Functional currency

A: currency : Currency is the medium of exchange of goods and services.