Indicate Whether Each of the Following Statements Is True or False.(Assume

question 98

Short Answer

Indicate whether each of the following statements is true or false.(Assume a perpetual inventory system. )
_____ a)The freight terms FOB shipping point increase the cost of inventory to the buyer.
_____ b)The term FOB means that goods are shipped free of charge to buyer and seller.
_____ c)FOB shipping point means that purchaser's responsibility ends at shipping point.
_____ d)FOB destination means that seller's responsibility ends at destination.
_____ e)When the seller of merchandise records freight under the terms FOB shipping point,the seller records an expense.

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Definitions:

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A legal concept that requires certain types of contracts to be written and signed in order to be legally enforceable.

At Will

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