What happens when merchandise is delivered FOB shipping point?Multiple ChoiceOO The seller records transportation-out expense.OThe buyer records transportation cost as an expense.OThe buyer pays the freight cost.The seller pays the freight cost.

Ans. The buyer pays the freight cost

What happens when merchandise is delivered FOB shipping point? Multiple Choice O O O O The buyer records transportation cost as an expense. The seller records transportation-out expense. The buyer pays the freight cost. The seller pays the freight cost.

What happens when merchandise is delivered FOB shipping point? Multiple Choice O O O O The buyer records transportation cost as an expense. The seller records transportation-out expense. The buyer pays the freight cost. The seller pays the freight cost.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 19MC: Which of the following is not a characteristic of FOB Shipping Point? A. The buyer pays for...

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What happens when merchandise is delivered FOB shipping point?
Multiple Choice
O
O The seller records transportation-out expense.
O
The buyer records transportation cost as an expense.
O
The buyer pays the freight cost.
The seller pays the freight cost.

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