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  3. 5. deposits in transit a. have been recorded on th

5. Deposits in transit a. have been recorded on the company's books but not yet...

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Accounting

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5. Deposits in transit a. have been recorded on the company's books but not yet by the b. have been recorded by the bank but not yet by the company. c. have not been recorded by the bank or the company. d. are checks from customers which have not yet been rece company . If a purchaser using a perpetual system agrees to freight terms of FOBS then the a. Merchandise Inventory account will be increased. b. Merchandise Inventory account will not be affected. c. seller will bear the freight cost. d. carrier will bear the freight cost. An accounting time period that is one year in length, but does not bec 1, is referred to as (a) a fiscal year. b. an interim period. c. the time period assumption. d. a reporting period. 6) If a purshaver using a perpetual system agrees to fright of FOB system then the 7 An accounting time period that is one year in length, but does not beg Dec l, is referred to as: *DRY

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