Park,IncPurchased Merchandise from Jay Zee Music Company on June 5,2017

question 98

Multiple Choice

Park,Inc.purchased merchandise from Jay Zee Music Company on June 5,2017.The goods were shipped the same day.The merchandise's selling price was $15,000.The credit terms were 1/10,n/30.The shipping terms were FOB shipping point.Park received the merchandise on June 10,2017.Park paid the amount due on June 13,2017.
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Who is responsible for payment of the transportation costs on the merchandise sold by Jay Zee Music to Park?

• A)Jay Zee Music Company
• B)Park,Inc.
• C)Split equally between the two companies
• D)Cannot be determined from the information provided

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Definitions:

Strike Picketing

The practice of workers standing outside their place of employment to protest working conditions or labor disputes.

Collective Bargaining

The process of negotiation between employers and a group of employees aimed at agreements to regulate working conditions.

Labor Dispute

A labor dispute is a disagreement between employers and employees regarding employment conditions, wages, work hours, or other aspects of worker rights and welfare.

FMLA

The Family and Medical Leave Act, a U.S. federal law that provides employees with unpaid, job-protected leave for family and medical reasons.