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The Buyer of a Product Is Located in Des Moines,Iowa

question 26

Multiple Choice

The buyer of a product is located in Des Moines,Iowa and the seller is located in Sacramento,California.The contract specifies F.O.B.Des Moines.What type of contract is this?


Definitions:

Disposable Income

Income remaining after deduction of taxes and other mandatory charges, available to be spent or saved as one wishes.

Interest Rate

The cost of borrowing money, expressed as a percentage of the total amount loaned.

Net Wealth

The total value of all financial and non-financial assets owned by an individual or entity minus any liabilities.

Future Prices

The expected price of a commodity, security, or currency set in a futures contract for delivery and payment at a specified future date.

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