If Goods Shipped FOB Destination Are in Transit at the End

question 49

Multiple Choice

If goods shipped FOB destination are in transit at the end of the year,they should be included in the inventory balance of the

• A) seller.
• B) common carrier.
• C) buyer.
• D) bank.

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Definitions:

Legal Doctrine

A principle or framework of principles established through precedent in case law which guides judicial decision-making.

Breaches

Instances where a rule, law, or agreement is violated or broken.

Compensatory Damages

Financial compensation awarded to a plaintiff to cover actual losses, harm, or injury they have suffered as a result of the defendant's actions.

Non-Breaching Party

A party in a contract who has not violated any of the agreement's terms.