WebBusiness; Accounting; Accounting questions and answers; Select the term in the blank space beside the definition that it most closely matches. 1. Goods a company owns and expects to sell to its customers. 2 Time …
Free on Board (FOB) Explained: Who
WebSep 19, 2024 · September 19, 2024 by Sara Blackwell. A FOB (free on board) buyer’s place of business is a legal term that refers to the location where the buyer is responsible for taking possession of the goods … Weba) Goods were delivered FOB Shipping Point, but they have not yet arrived at the buyer's place of business. b) Control of goods has not been transferred to the customer. c) The customer paid for goods in advance of the obligation being fulfilled. d) Goods were delivered FOB Destination, but they have not yet arrived at the buyer's place of ... simply kpt
Solved Question 71 point) FOB shipping or FOB factory means - Chegg
WebExpert Answer. 88% (8 ratings) Freight terms of FOB shipping point mean that the …. View the full answer. Transcribed image text: Freight terms of FOB shipping point mean that the seller must debit freight out. C buyer must bear the freight costs. C goods a C seller must bear the freight costs re placed free on board at the buyer's place of ... WebFirst, let’s define what FOB (free on board) means by breaking it down word-by-word. The term ‘free’ refers to the supplier’s obligation to deliver goods to a specific location, later to be transferred to a carrier. In other words, the supplier is “free” of responsibility. ‘On board’ simply means that the goods are on the ship. WebExpert Answer. Answer. False As per FOB shipping, ownership of goods is transferred to the buyer as soon as the public carrier accep …. Question 71 point) FOB shipping or FOB factory means ownership of goods transfers to the buyer when goods reach the buyer's place of business. True O False. raytheon nigeria