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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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Chapter
Section
BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

LO3 If goods are shipped FOB shipping point, the seller pays for the shipping costs.

To determine

Identify whether the given statement is true or false.

Explanation

FOB Shipping point means that the buyer pays all costs incurred for the delivery of goods once the goods is left from the supplier’s warehouse.

From the above explanation, it is clear that if goods are shipped from the FOB shipping p...

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