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InfoTech's new product team has a norm of backing up each of their computer's hard drives at the end of each working day. This norm developed because one day a computer virus infected the team's computer network and destroyed many important computer files. The cause of this norm was clearly:
FOB Shipping Point
A term used in shipping contracts to indicate that a buyer must pay for the shipping costs and is responsible for the goods once they leave the seller's premises.
FOB Destination
FOB Destination is a shipping term indicating that the seller retains ownership and liability of goods until they are delivered to the buyer's specified location, at which point the buyer assumes responsibility.
Title Passage
The point in time when the ownership (title) of goods passes from seller to buyer as per the terms of the sales contract.
Perpetual Inventory System
An accounting method that records goods transactions immediately through the use of computer systems, providing a continuous balance of inventory.
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