If the Terms of the Contract Specify FOB (Free on Board)factory,then

question 29

Multiple Choice

If the terms of the contract specify FOB (free on board) factory,then:

• A) the seller has title until the goods are received at the destination.
• B) the seller is responsible for any loss during transportation.
• C) the buyer assumes the responsibility and risk for any loss during transportation.
• D) the seller does not expect payment for the merchandise until it reaches its destination.
• E) the goods are being sold on consignment.

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Definitions:

Thread Representation

A standardized way of depicting the thread on fasteners or tapped holes in technical drawings, indicating form, pitch, and diameter.

Set Screws

Fasteners designed to pass through a threaded hole in one object to tighten against another, securing them together without protruding from the surface.

International Organization for Standardization

An independent, non-governmental international organization that develops standards to ensure quality, safety, and efficiency of products, services, and systems.

ISO

International Organization for Standardization, an international standard-setting body composed of representatives from various national standards organizations.