The year, the price level increased by 2 percent.The nominal wages increase by 2%. This statement is True.It is in contrast to the real price of an asset, which considers deductions and premiums.
The definition of nominal is something that only exists in name or has very little worth. One instance of nominal damages is when a person receives only $1 in compensation from the court because he was wronged but did not actually suffer any harm.
Any financial statistic that is measured in terms of current real costs approaches the statistic's nominal value. The equal figure that has been corrected for inflation is referred to as the actual price. Usually, the actual cost is more significant.The nominal price in economics is the unadjusted cost of an asset without taking into account costs, taxes, inflation, or interest rates.
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Any purchased materials that will go into the finished product are first recorded in the (1) (2) inventory account. (Enter only one word per blank.)1. raw2. materials
Any purchased materials that will go into the finished product are first recorded in the raw material inventory account.
What is the raw material inventory account?Yes, that's correct. Any purchased materials that will be used in the finished product are recorded in the raw materials inventory account.
Raw materials inventory account is a type of account used in accounting to track the value of raw materials that a company has on hand and intends to use in the production of finished goods.
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What can the government do to reduce consumer demand for loans?
Answer:
Increase interest rates
Explanation:
The higher the interest rates that consumers have to pay may dissuade them from borrowing.
A large pizza business makes pizzas and sells them. The pizzas are manufactured and kept in cold storage
for not more than two weeks.
The business is split into a number of functional units. There is Production Control,
Manufacturing, Stores, Accounts, Sales, Shipping and Purchasing. Production Control are responsible
for organising which pizzas to produce in what order and in what quantity. They need to schedule the
production of the pizzas according to the current and expected sales orders together with the number of
pizzas already in Stores. Manufacturing take the raw materials from the Stores and manufacture pizzas
returning the completed goods to the Stores. Accounts deal with the payments for the pizzas when
delivered to the customer and the payment to the suppliers of the raw materials. Sales deal with customer
orders whilst Purchasing organise the buying of raw material from suppliers. Shipping manage the
packing and delivery of the goods to the customer with a delivery note.
When a sales order is received by sales they record what is being ordered and by whom. They
also record the details of the expected date of delivery. Production Control access this information and
make sure that, if required, pizzas are produced by Manufacturing and are ready in Stores for when the
delivery needs to be made.
After the delivery is made Accounts make sure that the customer receives an invoice and that
payment for the invoice is received at which time a receipt is issued. Purchasing look at the current stock
of raw materials and by using current stock levels, supplier turn around times and quantity to be ordered
decide what needs to be ordered on a daily basis. Their aim is never to run out of an ingredient but to
minimise the amount of raw material kept in stock. â
The functional units and processes involved in a pizza business are Production Control, Manufacturing, Stores, Accounts, Sales, Purchasing, Shipping
This is a description of the functional units and processes involved in a pizza business:
1. Production Control: responsible for scheduling the production of pizzas based on current and expected sales orders and the number of pizzas in Stores.
2. Manufacturing: takes raw materials from Stores and produces pizzas, which are returned to Stores.
3. Stores: holds the completed pizzas for up to two weeks before they are sold.
4. Accounts: responsible for payments received from customers and payments made to suppliers of raw materials.
5. Sales: receives customer orders and records details of the order and expected delivery date.
6. Purchasing: decides what raw materials need to be ordered based on current stock levels, supplier turn around times, and the quantity to be ordered.
7. Shipping: responsible for packing and delivering the pizzas to customers with a delivery note.
The process begins when Sales receives an order from a customer and records the details. Production Control accesses this information and schedules the production of pizzas accordingly. Manufacturing takes the raw materials from Stores and produces pizzas, which are returned to Stores. After the delivery is made, Accounts issues an invoice to the customer and ensures payment is received. Purchasing looks at current stock levels and orders raw materials as necessary to minimize waste and ensure that they never run out of an ingredient. Finally, Shipping is responsible for packing and delivering the pizzas to the customer.
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6. He is not a skilled worker. He
doesn't ............... much.
win
gain
earn
pay
afford
Answer:
earn .
He is not a skilled worker. He doesn't earn much.
Explanation:
He doesn't earn much.....
Why doesn’t the government try to end seasonal unemployment?
It would be too expensive.
It would eliminate too many jobs.
It is a natural part of a healthy economy.
The government does not try to end seasonal unemployment because It is a natural part of a healthy economy.
What is seasonal unemployment?Seasonal unemployment can be4 described as the type of employment where people are unemployed at particular times of the year as a result of the demand for labour coming down or declining.
Seasonal unemployment can be seen as a temporary window of time, hence The government does not try to end seasonal unemployment because It is a natural part of a healthy economy.
It should be noted that Seasonal unemployment comes in form of involuntary unemployment which is usually as a result of the mismatch that do take place in between skills that workers is able to offer in the economy as well as the demand for that particular skills .
In most times, this type of unemployment is as a result of the technological changes that is occurring at that time which makes the job skills of many workers obsolete.
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How should you dress for a phone interview? (Site 1)
online content
Answer:
You should at least have a nice top on because only the camera will see that. If you are a girl you could just wear a dress, probably a black one because that is what I wore to my interview yesterday because there is no pattern or anything it's just a plain black one, but that was in person. if you're a guy you need to wear a suit and tie,but you could probably just wear shorts because they won't see the bottom half of you
Explanation:
I hope this helps out a little bit :-)
An interview is a formal process by which an employee is assessed for his/her performance by the employer.
For a phone interview, one should be dressed properly as the interviewer can see you through the camera.
For a girl, you should be dressed nicely and no revealing or extra shiny clothes should be wore.
In the case of a man, one should be properly dressed in suits or formal shirts.
Try to wear dark black or blue coloured clothes and sit in a properly lighted area.
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Carrington Company owes you $500 on account due within 15 days. Which of the following amounts on its statement of financial position would help you to determine the likelihood that you will be paid in full and on time? Cash and property and equipment. Cash and trade receivables. Contributed capital and retained earnings. Cash and inventory.
The amount on Carrington Company's statement of financial position that would help you determine the likelihood of being paid in full and on time is "Cash and trade receivables."
This line item represents the cash that the company currently holds and the outstanding trade receivables, which include the amount owed to you. By examining the cash position and the level of trade receivables, you can assess the company's ability to meet its obligations, including paying its accounts payable within the specified time frame.
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Exercise 8-7 At December 31, 2018, Concord Corporation Company had a credit balance of $18,800 in Allowance for Doubtful Accounts. During 2019, Concord Corporation wrote off accounts totaling $13,500. One of those accounts ($3,500) was later collected. At December 31, 2019, an aging schedule indicated that the balance in Allowance for Doubtful Accounts should be $30,700. Prepare journal entries to record the 2019 transactions of Concord Corporation Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Answer:
Dr Allowance $13,500
Cr Accounts Recivable $13,500
Dr Accounts Recivable $3,500
Cr Allow ance $3,500
Dr Cash $3,500
Cr Accounts Rec $3,500
Dr Bad Debts Expense $21,900
Cr Allowance $21,900
Explanation:
Preparation of the journal entries to record the 2019 transactions of Concord Corporation Company
Dr Allowance $13,500
Cr Accounts Recivable $13,500
(To record amount written off)
Dr Accounts Recivable $3,500
Cr Allow ance $3,500
(To reverse write-off)
Dr Cash $3,500
Cr Accounts Rec $3,500
(To record collection of writeoff)
Dr Bad Debts Expense $21,900
Cr Allowance $21,900
[$30,700-($18,800-$13,500+$3,500)]
Businesses are usually interested in promoting growth because it:
A. expands the frontier on their production possibilities curves.
B. weakens productivity for competing businesses.
C. reduces their need to pay a large staff of employees.
D. creates additional marketing value without extra investment.
Answer: A - expands the frontier on their production possibilities curves
Explanation:
It was correct when checked
Businesses are usually interested in promoting growth because it expands the frontier on their production possibilities curve. Hence, option A holds true regarding business growth.
What is business growth?An expansion in the scope of business, which gives business an opportunity to improve the productivity and increase the sales exponentially, ultimately leading to increased profitability, is known as business growth.
Increased productivity at a constant rate enables a business to assume expanding its production capacities on the production possibilities curve, which can be determined through graphical representation.
Hence, option A holds true regarding the business growth.
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The finishing department of flint company has the following production and cost data for july:
1. completed and transferred out, 9,440 units.
2. ending work in process inventory, 2,360 units that are 40% complete as to conversion costs.
3. materials added, $35,400; conversion costs incurred, $25,960.
materials are entered at the beginning of the process. conversion costs are incurred uniformly during the process. flint company uses weighted-average process costing, and there were no units in beginning work in process.
required:
compute the equivalent units of production for materials and conversion costs for the month of july.
Equivalent Units of Production for Materials: 9,440 units completed and transferred out + 2,360 units * 40% (conversion costs) completed = 10,464 equivalent units of production for materials.
What is Materials?Materials are the substances from which an object is made or composed. They are the raw components or ingredients that are used in the creation of a product, structure, or system. Materials can be either natural or synthetic, and have unique properties and characteristics that make them suitable for specific uses.
The completed and transferred out units reflect the materials already added, so they are already accounted for. The ending work in process inventory is given as a percentage of completion, so we need to multiply the number of units by the percentage given to calculate the equivalent units of production for the partially completed units.
Equivalent Units of Production for Conversion Costs:
9,440 units completed and transferred out + 2,360 units * 40% (conversion costs) completed = 10,464 equivalent units of production for conversion costs.
The completed and transferred out units reflect the conversion costs already incurred, so they are already accounted for. The ending work in process inventory is given as a percentage of completion, so we need to multiply the number of units by the percentage given to calculate the equivalent units of production for the partially completed units.
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When an entrepreneur takes some of his profits and replaces old machinery, he is investing in
A. Natural Resources
B. Human Capital
C. Land
D. Capital Goods
Answer:
D. Capital Goods
Explanation:
Capital goods are physical assets that a business uses to generate revenues. Usually, capital goods have a useful life beyond one year. It implies that they are not meant for sale in the current financial year.
Capital goods include machinery, plants, and equipment, and other long term tangible assets. Some capital goods require a considerable sum of funds to acquire. Costs incurred in acquiring capital goods are spread over the number of their useful life.
Answer:
ok
Explanation:
ok
when must interest and principal payments on a Stafford Student Loan begin
Answer:
The interpretation of the issue is listed throughout the clarification section below.
Explanation:
As usual and when you get a subsidized mortgage, the economy amount to accrue, but perhaps the government will pay everything on someone's account. This seems to be the case for other education loans, individuals aren't encouraged to make additional cash receipts and cash contributions while being in education or even for 6 months after taking university or education center.
The capital of the firm of Anu and Benu is Rs. 1,00,000 and the market rate of
interest is 15%. Annual salary to partners is Rs. 6,000 each. The profits for the
last 3 years were Rs. 30,000; Rs. 36,000 and Rs. 42,000. Goodwill is to be
valued at 2 years purchase of the last 3 years' average super profits. Calculate
the goodwill of the firm.
Answer:
capita cr salary dr goodwill dr because assets purchasesis dr
Which type of account (real, personal, or nominal) includes the following expenses of a business?
Expenses like rent, transportation, and advertising are part of a business’ ______
account, because they are fictitious.
Answer: Nominal account
Explanation:
Expenses like rent, transportation, and advertising are part of a business (Nominal) account, because they are fictitious.
Personal accounts are the accounts that have to do with individuals, or businesses. A real account is an account that isn't closed when the accounting period ends. The bqlnaces in the real account are carried to the following period. An example of this is cash.
Nominal account is an account that has a zero beginning balance at the start of the year. This is because when an accounting year ends, the nominal account will be closed.
The idea of introducing flying cars to Uber’s fleet primarily impacts which target element of change? uber ch 10
Answer:
the element of change it would affect is methods
Explanation:
Question 17 When your group agrees all the time and never has conflict, it is considered to be Ogroup challenges Osmoup hate O group work O group conflict Ogroup think Question 18 Which style is considered the most satisfying or a win/win" style? O collaboration O compromise O accomodation O avoidance O competition Question 19 If you are hired, elected or appointed to a position, you have what type of power? O ecological O persuasive O legitimate O expert O referent 2 pts 2 pts 2 pts
When your group agrees all the time and never has conflict, it is considered to be "Groupthink."
The style considered the most satisfying or a "win/win" style is "Collaboration."
If you are hired, elected, or appointed to a position, you have "Legitimate Power."
Question 17: When your group agrees all the time and never has conflict, it is considered to be "Groupthink."
Groupthink refers to a phenomenon in which a group of individuals strive for consensus and harmony within the group, often at the expense of critical thinking and independent decision-making. In such a group, there is a strong desire for unanimity, and dissenting opinions or conflicting viewpoints are suppressed or ignored. This can lead to flawed decision-making and a lack of creativity or innovation within the group.
When a group agrees all the time and avoids conflict, it can be detrimental to the quality of decision-making and problem-solving processes. Encouraging open communication, diverse perspectives, and constructive conflict can help mitigate the negative effects of groupthink and lead to better outcomes.
Question 18: The style considered the most satisfying or a "win/win" style is "Collaboration."
Collaboration involves actively seeking input and involvement from all parties involved in a situation to find mutually beneficial solutions. It focuses on shared goals, cooperation, and teamwork, aiming to create outcomes that satisfy the interests of all parties involved. Collaboration often involves open communication, active listening, and the integration of different perspectives and ideas.
Question 19: If you are hired, elected, or appointed to a position, you have "Legitimate Power."
Legitimate power is a type of power that comes from an individual's formal role or position in an organization or society. It is based on the authority and responsibilities associated with the position held. Legitimate power implies that others recognize and accept the authority of the person in the position to make decisions, give orders, and enforce rules or policies.
When someone is hired, elected, or appointed to a position, they have legitimate power, which grants them the authority to make decisions and exert influence based on the position they hold. However, the effective use of this power also depends on factors such as competence, credibility, and the ability to inspire trust and respect among others.
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The Production Function shows how total output changes when the amount of a single variable input changes while all other inputs are held constant. Which Economic Resource (Factor of Production) is usually the variable input?
Answer:
labor
Explanation:
They are four factors of production. They are labor, capital, land, and entrepreneurship.
Labor is compensation for human skills, knowledge, time, and energy. It is indicated as salary, wages, commissions, or allowances in the books of account. A company's labor expense is influenced by the number of workers it requires. A planned high output will require many workers, while a low-volume production needs fewer workers. Therefore labor is considered a variable cost.
Capital includes the finances, equipment, and machinery required to start a business. Capital is a fixed cost as capital requirements do not vary will the volume of output. Land and entrepreneurship are fixed costs as they are not expected to change in the s
what is good about having a checking account?
Answer:
It allows you to deposit money that you can then draw against to pay bills or make purchases
Explanation:
g Many impoverished nations struggle with diseases like malaria. How would a reduction in or elimination of malaria contribute to long-run economic growth
The reduction in malaria would cause better health prospect for the individuals who are working towards nation building in some or the other way.
It is well known that a healthy body will provide healthy results rather than a person who is trying to work all day but is sick. It is because when the mind and body are healthy, they look for productivity and creativity which are the stars of developing towards better goals. A working adult who is healthier misses fewer days of work and is thus more productive. Same is for the child, who is able to perform well in exams and sports only because of good health. Thus, nation building relies on healthy individuals who act as assets. Malaria degrades the health of many individuals and so reducing such diseases which traps many people in one go must be eliminated as soon as possible.
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Miguel’s employer pays $1,825 in health insurance and $93 in life insurance per year. He also gets $2,860 in paid time off per year. His monthly gross pay is $3,890. What are Migual’s total job benefits per year? a. $51,458 b. $46,680 c. $8,668 d. $4,778 Please select the best answer from the choices provided A B C D.
The among the four options given in the question is option A. $51,458.
Miguel’s total job benefits per year can be calculated by adding all the amounts which he gets as job benefits throughout the year, and they are as follows:$1,825 in health insurance$93 in life insurance$2,860 in paid time offAll these amounts have to be added together to get the main answer as the total job benefits per year.
Therefore, Total job benefits per year = Health insurance + Life insurance + Paid time off$=1825+93+2860$=$4778$Therefore, Miguel's total job benefits per year would be $4778.The correct answer is A. $51,458.
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Shuri is revamping her company to clarify the chains of command, the tasks assigned to each worker, the official policies and procedures, and her expectations for cooperation and teamwork. Shuri is:.
By reshaping her company to clarify the chains of command, the tasks assigned to each worker, the policies and procedures according to her expectations of cooperation, Shuri is increasing organizational synergy.
Importance of synergyIn an organization, synergy corresponds to simultaneous efforts, that is, cooperation that will lead to the integration of employees and organizational goals and objectives.
Therefore, by increasing synergy, Shuri aims to integrate organizational resources with the workforce, increasing cooperation, communication and organizational culture, focused on development and continuous improvement.
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Over five quarters, revenue generated by Alpha Enterprises was: 10, 14, 12, 16, 20. Using the exponential smoothing technique, calculate smoothed values for the 2nd, 3rd, 4th, and 5th quarters given that
a = 0.5: a. 12, 13, 14, 18
b. 12, 12, 14, 17
c. 12, 14, 16, 18
d. 12, 14, 16, 20
To calculate the smoothed values using exponential smoothing, we start with the first observed value and then apply the smoothing formula:
k
Smoothed Value = α * Current Value + (1 - α) * Previous Smoothed Value
Given the following revenue values: 10, 14, 12, 16, 20 and α = 0.5, we can calculate the smoothed values for the 2nd, 3rd, 4th, and 5th quarters as follows:
1st Quarter: Smoothed Value = 10 (Since it's the first observed value)
2nd Quarter: Smoothed Value = 0.5 * 14 + 0.5 * 10 = 12
3rd Quarter: Smoothed Value = 0.5 * 12 + 0.5 * 12 = 12
4th Quarter: Smoothed Value = 0.5 * 16 + 0.5 * 12 = 14
5th Quarter: Smoothed Value = 0.5 * 20 + 0.5 * 14 = 17
The smoothed values for the 2nd, 3rd, 4th, and 5th quarters are: 12, 12, 14, 17.
The correct answer is option b: 12, 12, 14, 17.
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Costs for office equipment in the first year of a business can run from approximately
A 500 to $1,500.
B3,000 to $12,000.
C6,000 to $18,000.
D10,000 to $25,000.
Answer:
c
Explanation:
if it's a green technology than the answer could be c
The commute times for the workers in a city are normally distributed with an unknown population mean and standard deviation. If a random sample of 27 workers is taken and results in a sample mean of 22 minutes and sample deviation of 3 minutes, find a 95% confidence interval estimate for the population mean using the student's t-distribution.
If the commute items for the workers in a city are normally distributed with an unknown population mean and standard deviation. Using the student's t distribution 95% confidence interval for the sample mean is 20.8129 and 23.1870
To calculate a 95% confidence interval.
Given Data
size n = 27 , sample mean = 22 , standard deviation = 3.
Here the 95% CI is given as,
× ± t*s/\(\sqrt{n}\)
t{(n-1),\\(\alpha\)}=t_{(27-1),0.05} = 2.056
(22± 2.056*3/\sqrt{27})
(22- 2.056*3/√27, 22+ 2.056*3/\sqrt{27})
( 22 - 1.1870 , 22 + 1.1870)
( 20.8129 , 23.187)
Thus , 95% confidence interval for sample mean is ( 20.8129 , 23.1870).
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in a transaction-processing system, ________ insures that transactions, once completed, cannot be undone.
In a transaction-processing system, "commit" insures that transactions, once completed, cannot be undone. A transaction processing system (TPS) is a type of information processing system.
It is used to capture, process, and store transactions associated with business operations.
The term "transaction" refers to any business activity that alters a firm's financial condition, such as depositing or withdrawing funds from a bank account, purchasing goods or services, or altering inventory levels.Transaction processing is the primary function of a TPS. It is a system that records transactions as they occur, providing timely and accurate information about the company's business operations. The accuracy and reliability of the data in a TPS are critical because other systems rely on it.
The following are some of the characteristics of a TPS:
Reliability: A TPS must be dependable, providing accurate information that can be used to make decisions. It must also be accessible to users who require information in a timely manner.
Accuracy: A TPS must be precise, capturing transactions and creating reports that are free of errors.
Timeliness: A TPS must be fast, capturing transactions in real-time and providing timely information when required.
Performance: A TPS must be capable of handling a large volume of transactions at any given time.
It must also be scalable, allowing it to handle additional transactions as the business grows.
Security: A TPS must be secure, preventing unauthorized access to data or transactions. It should also be auditable, allowing managers to monitor the system and ensure that it is working properly.
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What job in the marketing field is not typically available to people just starting their marketing career?
A.Manager
B.Graphic designer
C.Web developer
D.Editor
Answer:
manger
Explanation:
i took the test
The job in the marketing field is not typically available to people just starting their marketing career as of Managers. Thus the correct option is A.
What is a Career?A career is what someone chooses as a vocation to earn money. An individual's career is based on his talents, skills, and abilities, which enable him to seek growth and development and achieve his life goals.
When an individual starts their career in the field of marketing they get opportunities on the beginner level like graphic designer, web developer as well as Editor.
The manager-level job is a high-position job that requires expertise and experience in order to bring excellent work to the organization by completing the tasks and achieving goals.
Therefore, option A is appropriate.
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Who is the richest man in the world
Answer:
Jeff Bezos is the richest man in the world.
(d) Explain how the sampling methods four non-probability sampling methods:
Quota Sampling, Judgmental Sampling, Snowball Sampling, and Convenience Sampling
may be used in business administration.
You are expected to make use of short real-life examples to support your answer with appropriate referencing.
Non-probability sampling techniques are essential for data collection when population-based selection is not possible. Four of these techniques, include Quota Sampling, Judgmental Sampling, Snowball Sampling, and Convenience Sampling
Sampling is a critical tool that is widely used in business administration. Non-probability sampling techniques, on the other hand, are essential for data collection when population-based selection is not possible. Four of these techniques, including Quota Sampling, Judgmental Sampling, Snowball Sampling, and Convenience Sampling, are discussed below.
Quota Sampling: Quota sampling is a non-probability sampling technique that is widely used in market research. This method requires the population to be divided into segments or strata based on different demographic criteria, such as age, sex, and race. In this technique, the researcher defines the sample size for each stratum. For instance, if we want to survey customers for a product, we can divide them into segments like age, gender, and income and take an equal number of samples from each group. It helps to ensure that the sample is representative of the population.
Judgmental Sampling: Judgmental sampling is a non-probability sampling technique that is used when the researcher has a wealth of knowledge about the study population. The researcher uses his or her judgment to identify specific individuals or groups that are likely to have the necessary information. For example, if we want to study the work habits of employees in a company, we can use the supervisor's judgment to select employees who are most likely to provide accurate and relevant information.
Snowball Sampling: Snowball sampling is a non-probability sampling technique used in situations where the population is difficult to reach or identify. It is usually used for research on hard-to-reach populations such as drug users, prostitutes, and undocumented immigrants. In snowball sampling, the researcher starts with one participant and then asks that person to identify other participants who can also participate in the study. It helps to expand the sample size and can often yield a more representative sample.
Convenience Sampling: Convenience sampling is a non-probability sampling technique that is often used in research when the researcher selects participants based on convenience or proximity. It is used when the population is readily available and easy to access. For example, if we want to study the shopping habits of a particular group, we can go to a shopping mall and survey the first 100 people who pass by. It is a quick and easy way to gather data that can provide insights into the research question.
Non-profitability in Sampling Methods: Most of the non-probability sampling methods are less reliable than probability sampling methods. Non-probability sampling methods have a high risk of bias. For example, in quota sampling, the researcher can over-represent a particular group if he or she has some bias. Similarly, in judgmental sampling, the researcher can choose the sample that confirms his or her hypothesis. Therefore, researchers should use non-probability sampling methods with caution and understand their limitations while conducting the research.
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Which is a characteristic of judging approach
Answer:
Clarity and Closure
Explanation
Judgers take a planned, ordered, and precisely calibrated approach to life, developing both short- and long-term plans to assist them in achieving their objectives. For them, schedules and "to-do" lists are consoling. They dislike uncertainty and change, preferring to know what they are getting into instead.
Those that have this preference feel more in control of their surroundings. They are disciplined and resolute, seeking resolution as soon as possible to reduce stress. Judgers struggle with open-ended plans because they have a "work first-play later" mentality. Instead of addressing issues as they arise, they would prefer to devise three distinct backup plans.
Judgers take their obligations and deadlines very seriously, both in business and in life. They are quite particular.
recording the merchandise as inventory that was purchased fob destination and was still in transit would have no effect on the purchasing company's balance sheet.
When merchandise is purchased FOB (Free on Board) destination, it means that the ownership of the goods passes to the buyer once the goods reach the destination specified in the contract. In this case, if the merchandise is still in transit, it means that the buyer has not yet taken ownership of the goods.
Therefore, the buyer should not record the merchandise as inventory on their balance sheet until they have received and taken ownership of the goods.
If the merchandise is not yet in the buyer's possession, then it cannot be used or sold by the company, and therefore it does not have an effect on the company's balance sheet. The merchandise would only be recorded as inventory on the balance sheet once it has been received and is ready to be sold.
It is important to note that the terms of the FOB destination should be clearly stated in the purchase contract, as it determines the point at which the buyer takes ownership of the goods. Failure to properly record inventory could lead to inaccurate financial statements and potential legal issues.
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