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Author Question: Which document authorizes the purchase of the inventory from an approved vendor? a. the purchase ... (Read 220 times)

acc299

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on: Jul 5, 2018
Which document authorizes the purchase of the inventory from an approved vendor?
 a. the purchase order
  b. the petty cash voucher
  c. the receiving report
  d. the vendor's invoice

Question 2

Rigby Company buys merchandise from Shoshone Company with an invoice cost of 10,000 and shipping terms of FOB destination. The freight costs amount to 7,000. Which of the following statements is TRUE?
 
  A) Rigby Company will record freight-in costs of 7,000.
  B) Shoshone Company will record freight-out costs of 7,000.
  C) Shoshone Company will record freight-in costs of 7,000.
  D) Rigby Company will have inventory cost of 107,000.


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chinwesucks

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Reply #1 on: Jul 5, 2018
Answer to Question 1

a

Answer to Question 2

B


acc299

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Reply #2 on: Jul 5, 2018
Correct answers!


chinwesucks

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Reply #3 on: Jul 5, 2018
Great! Please up vote :D


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