Listed below are 5 terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the correct term.
-Cost flow assumption
A)Not feasible for many types of products.
B)Not required to correspond to actual product flow.
C)Legal title passes when goods are delivered to common carrier.
D)Legal title passes when goods arrive at customer location.
E)Making sure goods in transit are properly accounted for.

Question

Quizplus · Accepted Answer

Cost flow assumptions, such as FIFO (First In, First Out) or LIFO (Last In, First Out), do not need to match the actual physical movement of goods. They are accounting methods used to value inventory and determine the cost of goods sold.

Listed Below Are 5 Terms Followed by a List of Phrases