FOB Factory Denotes the Price of the Products at the Factory

question 177

True/False

F.O.b. factory denotes the price of the products at the factory. If the price is quoted as F.O.b. shipping, then shipping costs are paid by the seller.

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Definitions:

Petty Cash

A small amount of cash kept on hand in a business for minor, routine expenses, managed through a system involving vouchers.

Petty Cash Receipt

A petty cash receipt is a document used to record small cash payments for minor expenses, part of a system to manage incidental or minor office costs.

Petty Cash Account

A small amount of cash kept on hand for making immediate payments for miscellaneous small expenses.