The term "FOB" denotes * O free on board. O freight on board. free only (to) buyer. freight charge on buyer.
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Q: FOB shipping point
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Q: The term "FOB" denotes * O free on board. freight on board. O free only (to) buyer. O freight charge…
A: The term "FOB" denotes Answer Option a: free on board Explanation: FOB stands for “free on board”…
Q: Which of the following statements is NOT true
A: Answer: Option c.
Q: 6. Freight costs incurred by a seller on outgoing merchandise are debited to a. the Cost of Goods…
A: Disclaimer: “Since you have asked multiple question, we will solve the first question for you. If…
Q: f goods are sold on terms FOB shipping point, the ________. A. seller normally pays the…
A: The invoice contains all the terms related to sale like FOB point, discount and due date of the…
Q: Who bears the freight when the terms of sale are: FOB shipping point…
A: Freight refers to the expense incurred by the entity for carrying goods from one place to another.
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Q: 1. FOB destination and freight collect 2. FOB destination and freight prepaid 3. FOB shipping point…
A: Part 1:
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A: Hi student Since there are multiple questions, we will answer only first question.
Q: The FOB term is used with an identified physical location to determine а. None of the options O b.…
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Q: a. Explain Freight prepaid.
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A: Solution: Freight paid on sale in case of FOB destination is freight out expense for seller.
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A: The answer is given below:
Q: Who bears the freight when the terms of sale are (a) FOB shipping point, (b) FOB destination?
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Q: Explain the difference between freight in and freight out. Who pays for each? Who owns the goods…
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A: Inventory: It refers to the items held by an organization which were in various forms like raw…
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A:
Q: FOB SHIPPING POINT, who is the owner of goods in transit
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A: 1)Option A is correct FOB shipping point Means free on board at shipping point; buyer incurs all…
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A: The statement of cost of goods sold is prepared to record the cost of goods sold during the period.
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A: FOB is also written as free on board/ freight on board. In FOB destination, ownership is transferred…
Q: Carriage and insurance paid to (CIP) is one of the terms of sale is used in place of which of the…
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Q: The FOB term is used with an identified physical location to determine a. None of the options b. The…
A: Solution: The FOB term is used with an identified physical location to determine "Both the…
Q: The amount recorded for net cost of purchases includes all of the following EXCEPT: Purchase…
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Q: Freight on Board (FOB) shipping point requires that the seller pays the shipping cost.. True or…
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Q: Who is responsible for the freight cost when the terms are FOB destination? Please explain with full…
A: FOB: FOB means "Free on Board", also known as "Freight on Board". It is important to decide who is…
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- If 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 freightThe buyer should be responsible for the freight (legally) but the seller paid for it A. FOB shipping point, freight prepaid B. FOB shipping point, freight collect C. FOB destination, freight prepaid D. FOB destination, freight collectWhich 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.
- Who 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 sellerFreight on Board (FOB) shipping point requires that the seller pays the shipping cost.. True or False1) 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?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)Q3. Who bears the freight when the terms of sale are: FOB shipping point ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ FOB Destination ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
- 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 collectedWhich 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.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
