Explain the implications relating to ownership when goods are: In Transit (FOB) Shipping Point In Transit (FOB) Destination On Consignment
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Explain the implications relating to ownership when goods are:
- In Transit (FOB) Shipping Point
- In Transit (FOB) Destination
- On Consignment
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- Which of the following is not a characteristic of FOB Destination? A. The seller pays for shipping. B. The seller owns goods in transit. C. The point of transfer is when the goods leave the sellers place of business. D. The point of transfer is when the goods arrive at the buyers place of business.Which of the following is not a characteristic of FOB Shipping Point? A. The buyer pays for shipping. B. The buyer owns goods in transit. C. The point of transfer is when the goods leave the sellers place of business. D. The point of transfer is when the goods arrive at the buyers place of business.FOB SHIPPING POINT, who is the owner of goods in transit?
- Distinguish between FOB shipping point and FOB destination. Identify the freight terms that will result in a debit to Inventory by the purchaser and a debit to Freight-Out by the seller.The ownership of goods is transferred upon receipt of the goods by the buyer and the seller is the owner of the goods while in transit A. FOB Destination Point B. FOB Shipping Point C. Freight prepaid D. Freight collectOwnership of Inventory Explain the implications relating to ownership when goods are: In transit (FOB) Shipping Point In transit (FOB) Destination On Consignment
- Describe about concept of the GOODS ON CONSIGNMENT?Distinguish between FOB shipping point and FOB destination. Identify the freight terms that will result in a debit to Inventory by the buyer and a debit to Freight-Out by the seller.Distinguish between FOB Shipping Point and FOB Destination. Identify the freight terms that will result in a debit to Inventory and which one will result in a debit to Freight expenses by the seller.
