If Goods in Transit Are Shipped FOB Destination

question 137

Multiple Choice

If goods in transit are shipped FOB destination

• A) the seller has legal title to the goods until they are delivered.
• B) the buyer has legal title to the goods until they are delivered.
• C) the transportation company has legal title to the goods while the goods are in transit.
• D) no one has legal title to the goods until they are delivered.

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Definitions:

Consolidation Worksheet

A tool used in the process of combining the financial statements of the parent company and its subsidiaries to prepare consolidated financial statements.

Intragroup Dividends

Dividends paid between companies within the same group, often eliminating in consolidation for group financial statements.

Share Exchange

A transaction where companies trade shares with each other to form a strategic partnership or complete an acquisition or merger.

ASX

The Australian Securities Exchange, the primary stock exchange in Australia.