If the sale includes the seller paying the freight costs and assuming the responsibility for merchandise until it is received by the buyer, the freight terms are said to be: FOB shipping point. FOB destination. sales discount. trade discount.

If the sale includes the seller paying the freight costs and assuming the responsibility for merchandise until it is received by the buyer, the freight terms are said to be: FOB shipping point. FOB destination. sales discount. trade discount.

Name: If the sale includes the seller paying the freight costs and assuming
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Description: If the sale includes the seller paying the freight costs and assuming the responsibility for merchandise until it is receivedby the buyer, the freight terms are said to be:A FOB shipping point.ВFOB destination.(c) sales discount.D) trade discount.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.

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Question

If the sale includes the seller paying the freight costs and assuming the responsibility for merchandise until it is received
by the buyer, the freight terms are said to be:
A FOB shipping point.
В
FOB destination.
(c) sales discount.
D) trade discount.

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