A "Use By" Date Indicates

question 62

Multiple Choice

A "use by" date indicates:

• A)the last day that a product can be safely consumed.
• B)the last day the product is likely to be at peak flavor,freshness and texture.
• C)the last day that a store can sell a product.
• D)the date by which significant deterioration has already occurred.

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Definitions:

FOB Shipping Point

A term indicating that the buyer takes ownership and responsibility for goods at the point of departure from the seller's shipping dock.

Freight-Out

Refers to the cost associated with shipping goods to customers, a part of the selling expenses in accounting.

Periodic Inventory System

An inventory system that records inventory levels and the cost of goods sold at specific intervals, rather than continuously.

FOB Shipping Point

A delivery term indicating that the buyer assumes responsibility for the goods and the risk of damage at the moment the goods leave the seller's premises.