The term "FOB" denotes * O free on board. freight on board. O free only (to) buyer. O freight charge on buyer. O O
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Q: Distinguish between FOB Shipping Point and FOB Destination. Identify the freight terms that will…
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A: Hi student Since there are multiple questions, we will answer only first question.
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- Freight on Board (FOB) shipping point requires that the seller pays the shipping cost.. True or FalseIf the seller assumes the entire cost of transportation, without any reimbursement from the buyer, the freight terms are considered ______________. a. FOB shipping point b. FOB destination c. Freight in d. Freight out e. FOB freightWho is responsible for the freight cost when the terms are FOB destination? Please explain with full explanation. a. the seller b. the buyer c. the customer d. either the buyer or the seller
- 1) Who is the shipper and carrier in this bill of lading? 2) Is this a straight bill of lading, open bill of lading, or order bill of lading? 3) Is this a freight prepaid or freight collect bill of lading? Is this a clean bill of lading? Why?Explain the difference between freight in and freight out. Who pays for each? Who owns the goods while they are in transit? What type of account is freight in? What type of account is freight out?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 collect
- 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.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.Carriage and insurance paid to (CIP) is one of the terms of sale is used in place of which of the following? A. Free alongside ship (FAS) B. Cost, insurance, and freight (CIF) C. Cost and freight (CFR)D. Free on board (FOB)
- 21.This is a situation where the seller actually paid the freight charges but is not legally responsible for the same. a. FOB destination, freight prepaid b. FOB destination, freight collect c. FOB shipping point, freight prepaid d. FOB shipping point, freight collectedIf NetSolutions purchases merchandise inventory and pays the shipping or freight costs, the shipping terms are called ___________________. Group of answer choices FOB (free on board) destination FOB (free on board) merchandise FOB (free on board) shipping FOB (free on board) salesFOB destination of a Merchandise Business means: a. Goods are placed free on board to the buyer's place of business. b. Seller is responsible for paying the freight charges. c. Buyer is responsible for paying the freight charges. d. Seller ships the goods to buyer destination without charge to the buyer
