The Pilgrims Intended to Set Sail for Cape Cod in 1620

question 60

True/False

The Pilgrims intended to set sail for Cape Cod in 1620.

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Definitions:

FOB Destination

A shipping term indicating that the seller is responsible for the goods until they are delivered to the buyer's specified location, whereupon title and risk of loss pass to the buyer.

Revenue Recognition

The accounting principle dictating the specific conditions under which revenue is recognized or recorded.

Shipment Date

The shipment date is the day on which goods are officially transferred from the seller to the carrier or dispatched for delivery to the buyer.

FOB Shipping Point

A shipping term indicating that the buyer assumes responsibility for the goods and shipping costs the moment the goods leave the seller's premises.