FOB Origin Pricing Is a Method of Pricing Where

question 76

Multiple Choice

FOB origin pricing is a method of pricing where:

• A)title of goods remains with the manufacturer until sold to the ultimate consumer.
• B)title of goods passes to the buyer upon arrival at the final destination.
• C)title of goods passes to the buyer at the point of loading.
• D)price the seller sets includes all transportation costs.

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Definitions:

Adjusted Gross Income (AGI)

A calculation derived from your total earnings to ascertain the taxable portion of your income.

Deductions and Credits

Financial tools allowed by tax law to reduce taxable income or the tax itself, with deductions lowering taxable income and credits directly reducing the tax payable.

Maximum Penalty

The highest possible financial charge or punishment that can be imposed for a violation of a rule or law.

Failure to File

The failure of an individual or business to submit their tax return by the due date, which can result in penalties and interest charges.