Fairmont Company has shipped goods to Willowbook Recreation FOB shipping point.Fairmont will recognize sales revenue when:a. the goods leave Fairmont’s shipping dock.b. Fairmont and Willowbrook agree that the revenue should be recognized.c. the customer has paid the invoice.d. Willowbrook has received the goods
Fairmont Company has shipped goods to Willowbook Recreation FOB shipping point.Fairmont will recognize sales revenue when:a. the goods leave Fairmont’s shipping dock.b. Fairmont and Willowbrook agree that the revenue should be recognized.c. the customer has paid the invoice.d. Willowbrook has received the goods
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 19MC: Which of the following is not a characteristic of FOB Shipping Point? A. The buyer pays for...
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Fairmont Company has shipped goods to Willowbook Recreation FOB shipping point.
Fairmont will recognize sales revenue when:
a. the goods leave Fairmont’s shipping dock.
b. Fairmont and Willowbrook agree that the revenue should be recognized.
c. the customer has paid the invoice.
d. Willowbrook has received the goods
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