The Term "FOB Destination" Means

question 126

Multiple Choice

The term "FOB destination" means

• A) the seller of the merchandise is responsible for transportation costs.
• B) the seller relinquishes ownership at the shipping point.
• C) the buyer of the merchandise pays the shipping cost.
• D) the buyer assumes responsibility at the shipping point.

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Definitions:

Articles of Incorporation

A document filed with a state government to legally establish a corporation, outlining key details including its name, purpose, and structure.

Estoppel

A legal principle that prevents someone from arguing something contrary to a claim made or implied by their previous actions or statements.

Incorporation Statutes

Laws that govern the process of forming a corporation, including regulations around filing articles of incorporation, operating bylaws, and organizational structure.

Nonprofit Corporations

Organizations that operate for a charitable, educational, scientific, or social purpose without the intent of generating profit for shareholders.