Indicate Whether Each of the Following Statements Is True or False

question 71

True/False

Indicate whether each of the following statements is true or false. (Assume a perpetual inventory system.)________ a)The freight terms FOB shipping point increase the cost of inventory to the buyer.________ b)The term FOB means that goods are shipped free of charge to buyer and seller.________ c)FOB shipping point means that the purchaser's responsibility ends at freight point.________ d)FOB destination means that the seller's responsibility ends at destination.________ e)When goods are sold FOB shipping point, the seller will record transportation-out costs.

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Definitions:

OneDrive

A file hosting service and synchronization service operated by Microsoft as part of its suite of Microsoft 365 online services, providing cloud storage.

Webcast

The (usually live) broadcast of audio or video content over the Internet.

Hypertext Transfer

A protocol used on the internet for transmitting HTML documents, enabling the web to function.

E-commerce Business

A business model that involves selling goods and services over the internet.