When inventory is shipped from the seller to the buyer with shipping terms of FOB destination: A. the seller has title to the goods while they are in transit. B. the buyer has title to the goods while they are in transit. C. title passes from the seller to the buyer when the goods leave the seller's shipping dock. D. the goods will be included in the inventory of the buyer while in transit.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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When inventory is shipped from the seller to the buyer with shipping terms of FOB destination:
A. the seller has title to the goods while they are in transit.
B. the buyer has title to the goods while they are in transit.
C. title passes from the seller to the buyer when the goods leave the seller's shipping dock.
D. the goods will be included in the inventory of the buyer while in transit.
Transcribed Image Text:When inventory is shipped from the seller to the buyer with shipping terms of FOB destination: A. the seller has title to the goods while they are in transit. B. the buyer has title to the goods while they are in transit. C. title passes from the seller to the buyer when the goods leave the seller's shipping dock. D. the goods will be included in the inventory of the buyer while in transit.
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