Free on Board (FOB)designates That the Seller Is Responsible for the Costs

question 98

True/False

Free on board (FOB)designates that the seller is responsible for the costs of shipping and insuring a purchased product.

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Definitions:

Client-visits

Meetings or engagements with clients outside the company's premises for business discussions or services.

Activity Variance

The variance between the projected budget for a task and the actual expenses incurred.

Budgeting

The process of creating a plan to spend your money by estimating the revenue and expenses for a future period, used as a financial guide.

Actual Results

The real, measured outcomes of financial or operational activities, used to compare against budgeted or forecasted figures for analysis.