In FOB Shipping Point the buyer is responsible for paying the freight costs incurred in transporting the merchandise from the point of shipment to its destination.Group of answer choicesNo answer text provided.No answer text provided.TrueFalse

Select all that applyThe buyer and seller of merchandise must agree on who is responsible for paying freight terms. Show your understanding of freight terms by selecting all of the correct statements below.Multiple select question.Terms FOB shipping point means the seller of the goods is responsible for freight charges.Terms FOB destination means that the seller is responsible for shipping costs.Terms FOB shipping point means the buyer accepts ownership when the goods depart the seller's place of business.Revenue for the sale will be recorded after the goods reach their destination, if the goods are shipped FOB destination.When the shipping costs are the responsibility of the buyer, then the Merchandise Inventory account is debited for the freight charges.When the shipping costs are the responsibility of the seller, then the Merchandise Inventory account is debited.

Under which freight terms is the seller responsible for the shipping charges?Multiple ChoiceFOB Shipping PointFOB DestinationBoth FOB Shipping Point and FOB DestinationNeither FOB Shipping Point nor FOB Destination PrevQuestion 1 linked to 2 and 3 of 6 Total1 2 3 of 6Visit question map

The terms of shipment wherein title or ownership to goods is transferred from the seller to the buyer only upon the buyer’s receipt of merchandise*a. FOB shipping pointb. FOB destinationc. Freight prepaidd. Freight collect

If the seller is responsible for the shipping costs of merchandise sold, the shipping terms will be specified as:Multiple choice question.FOB factoryFOB startFOB destinationFOB shipping point

Freight which is the responsibility of the seller and paid by the seller.Group of answer choicesFOB SP, CollectFOB DP, PrepaidFOB DP, CollectFOB SP, Prepaid