Multiple Choice
Park, Inc.purchased merchandise from Jay Zee Music Company on June 5, 2015.The goods were shipped the same day.The merchandise's selling price was $15,000.The credit terms were 1/10, n/30.The shipping terms were FOB shipping point.Park received the merchandise on June 10, 2015.Park paid the amount due on June 13, 2015.
When did title to the merchandise transfer from Jay Zee Music Company to Park?
A) June 5, 2015
B) June 10, 2015
C) June 13, 2015
D) Cannot be determined from the information provided
Correct Answer:

Verified
Correct Answer:
Verified
Q55: The following is from Goldman Inc.'s 2015
Q56: Shipping terms of _ mean that the
Q59: When an inventory system updates the Inventory
Q60: Herndon Corp.purchased merchandise on account from Likert
Q62: If a company overstates its ending inventory
Q92: If cost of goods sold does not
Q119: The amount recognized on the Income Statement
Q156: Cost of goods available for sale is
Q200: The weighted average cost is calculated by
Q225: The inventory method that assigns the most