If the Terms of the Contract Specify FOB (Free on Board)destination,then

question 18

Multiple Choice

If the terms of the contract specify FOB (free on board) destination,then:

• A) any loss or damage incurred during transportation is the responsibility of the seller.
• B) the buyer is responsible for any loss during transportation.
• C) the buyer assumes the responsibility and risk for the merchandise as soon it leaves the factory.
• D) the buyer gets the title to the goods as soon as the invoice is made by the seller.
• E) the goods are being sold on consignment.

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Definitions:

Tint

A slight or faint shade of color or a small amount of a particular color added to something.

Ounces

A measure of mass in the avoirdupois system, equivalent to 1/16th of a pound or about 28.35 grams.

Square Feet

A unit of area measurement equal to a square measuring one foot on each side.

Oil Painting

A technique of painting with pigments that are bound with a medium of drying oil, often linseed oil, which creates a lustrous texture and depth of color.