Define goods in transit? Explain?

Q: Which of the following is the impact of agency cost?

A: Agency costs are internal costs incurred due to the competing interests of Shareholder i.e the…

Q: Define commodity IT asset.

A:

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: What is an operating segment?

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

Q: Define the term transportation costs.

A: Cost: Cost is that amount which is paid to get something from the any supplier and the amount which…

Q: What is a user view?

A: Database Management:  Database management refers to management of databases held within an…

Q: information access

A: With emerging product technology such as CD-I, DV-I, and so forth, and the possibility of charging…

Q: Explain Concept Syndications?

A: Syndication is a process by which small lenders come together and they lend the money to a big…

Q: What is a merchandiser?

A: Merchandiser is a business that purchases goods  and resells to customers…

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

A:

Q: Define Purchase return.

A: Financial accounting is the process of recording, summarizing, and reporting all the transactions in…

Q: How to Determine the Transaction Price?

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

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 kinds of information can be confirmed with a transfer agent?

A: The transfer agent is an entity that holds the information about the financial records of the…

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 meant by a unit of comparison? Why is it important?

A: Fixed assets:   These are the types of assets owned by the business that is expected to provide an…

Q: What is b Purchase Volume?

A: Purchase volume means the total amount of all the purchases charged to a single account.

Q: Explain how to determine the transaction price.

A: Determination of transaction price is one of the step of revenue recognition process. The…

Q: Differentiate between Appraised value and Assessed value?

A: Difference between appraised value and Assessed value:Appraisal value refers to that on a specific…

Q: What is the amount of Goodwill

A: Goodwill/Gain on Bargain purchase:  Purchase consideration/Investment  Add: Non controlling Interest…

Q: Who owns the goods in transit under FOB destination? * buyer O seller O either buyer or seller none

A: In case of goods in transit under FOB  means  The seller will

Q: Define the term Purchase Volume?

A: INTRODUCTION Purchases  In accounting, the cost of making purchases during a time period with the…

Q: What are finanicial transactions?

A: Transaction process system: It is a transaction process system can be defined as a system which is…

Q: Define the term merchandiser.

A: Cost accounting system: Cost accounting system of an organization consists of procedures and…

Q: How does FOB Shipping Point differ from FOB Destination

A: FOB  means Free on Board [ or Freight on Board].                       FOB…

Q: What purpose does a purchasing department serve?

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

Q: Define agency cost or problem

A: Agency problem is that problem which is a conflict of interest in a relationship where one side…

Q: Explain The Auction Process?

A: An auction is the place or thing where potential buyers and seller gather to publicly bid for the…

Q: what is articulation

A: Financial statement They are the records of financial activities which are formal in nature. It…

Q: Define Freight-in.

A: Purchases: The amount of cost of merchandise bought during a certain period is referred to as the…

Q: Distinguish between participating or nonparticipating?

A:

Q: Explain Advertising and Other Forms of Solicitation Rule.

A: Definition:

Q: Explain what is goodwill?

A: Solution:- Introduction:- Goodwill is an intangible asset. Goodwill arises when a company looking…

Q: Define inventoriable costs.

A: Inventoriable Costs are also known as Product Costs. Inventoriable cost is the cost of manufacture…

Q: defines the concept of globalization

A: Trade: Trade refers to the process that involves buying and selling of goods and services in…

Q: What is off-exchange transaction?

A: The answer is provided in the next step.

Q: Define agency problems, and describe how they give rise to agency costs.

A: Agency problems occur when the managers use the firm's resources to invest in projects that may not…