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    Modern Auditing Assurance
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    Exam 15: Auditing the Expenditure Cycle
  5. Question
    Goods Shipped FOB Shipping Point Should Remain in the Inventory
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Goods Shipped FOB Shipping Point Should Remain in the Inventory

Question 39

Question 39

True/False

Goods shipped FOB shipping point should remain in the inventory of the seller and be excluded from the buyer's inventory and accounts payable until arrival at the buyer's receiving department.

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