Asked by Peter Kervin on May 26, 2024
Verified
FOB is the term of agreement whereby the seller retains ownership while the goods are in transit and the buyer obtains ownership when the goods have been received into its store.
A) origin.
B) destination.
C) foreign country.
D) shipping point.
FOB
Free On Board (FOB) is an international commerce term used to indicate whether the seller or buyer is responsible for goods damaged or destroyed during shipping, specifying the point at which the risk of loss shifts.
Ownership
The legal right or state of having control over property, assets, or an entity.
- Acquire knowledge about the nature of monetary and non-monetary assets in the framework of international currency transactions.
Verified Answer
AD
Abboss DaneshpourMay 30, 2024
Final Answer :
B
Explanation :
FOB destination means ownership of the goods transfers from the seller to the buyer when the goods reach the buyer's specified destination.
Learning Objectives
- Acquire knowledge about the nature of monetary and non-monetary assets in the framework of international currency transactions.
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