Question: SECTION III. SHORT ANSWER (10 possible points) Please give a brief answer to each of the following questions. Each question is worth a possible 2

SECTION III. SHORT ANSWER (10 possible points)

Please give a brief answer to each of the following questions. Each question is worth a possible 2 points.

1. Why are shipping terms such as FOB shipping point or FOB destination point, important in deciding ownership of inventory at the end of the year?

2. An effective system of internal control is critical to protecting a company

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