Asked by Hannah Silene on May 23, 2024
Verified
FOB ________ means ownership of goods transfers to the buyer when the goods arrive at the buyer's place of business.The seller is responsible for paying shipping charges and bears the risk of damage or loss in transit.
FOB Destination
A shipping term indicating that the seller is responsible for the cost and risk of transport until the goods reach the buyer's location.
Buyer's Place
The agreed location where the buyer takes ownership of goods purchased, significant in determining shipping costs and liability.
- Recognize key terms and concepts in inventory and revenue recognition.
Verified Answer
NM
Learning Objectives
- Recognize key terms and concepts in inventory and revenue recognition.
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