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Author Question: A subsidiary inventory ledger can be an aid in maintaining inventory levels at their proper levels. ... (Read 38 times)

future617RT

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  • Posts: 543
on: Jul 5, 2018
A subsidiary inventory ledger can be an aid in maintaining inventory levels at their proper levels.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

On May 27, Ace Electronics ordered merchandise from Elmo Company. Elmo shipped the merchandise to Ace on May 31, FOB shipping point. The merchandise arrived at Ace's warehouse on June 2. Ace paid for the merchandise on July 1.
 
  When should Elmo recognize revenue?
  A) May 27
  B) May 31
  C) June 2
  D) July 1


amcvicar

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

True

Answer to Question 2

B


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