The Practice of Using a Trip as a Prize or Award

question 29

Multiple Choice

The practice of using a trip as a prize or award for performing to a certain set of standards is called ___________________.

• A) FAM trips
• B) incentive buying
• C) incentive travel
• D) corporate travel

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Definitions:

FOB Shipping Point

A shipping term indicating that the buyer is responsible for the goods and the shipping cost as soon as the goods leave the seller's premises.

FOB Destination

A shipping term indicating that the seller is responsible for the goods and the shipping cost until the goods reach the buyer's specified location.

Inventory

The goods and materials that a business holds for the ultimate goal of resale or production.

Periodic Inventory System

An inventory accounting system where updates to inventory levels are made periodically, typically at the end of an accounting period.