b . Understate the current ratio .
c . No effect on the current ratio .
d . Not sufficient information to determine effect on the current ratio .
30 . What is consigned inventory ?
a . Goods that are shipped , but title transfers to the receiver .
b . Goods that are sold , but payment is not required until the goods are sold .
c . Goods that are shipped , but title remains with the shipper .
d . Goods that have been segregated for shipment to a customer .
31 . When using a perpetual inventory system ,