Examlex
What is constructive possession?
Accounts Receivable
The amount customers are required to pay to a company for already delivered services or products.
FOB Shipping Point
A term used in shipping agreements indicating the buyer is responsible for the goods and shipping costs as soon as they leave the seller's premises.
Perpetual System
An inventory accounting system that records inventory purchases and sales in real-time, providing a continuous record of inventory levels.
Freight Costs
Freight Costs entail the charges incurred for the transportation of goods by land, sea, or air.
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