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

The 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 buyer accepts ownership when the goods depart the seller's place of business.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.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.Revenue for the sale will be recorded after the goods reach their destination, if the goods are shipped FOB destination.

If goods in transit are shipped FOB destination:Question 4Answera.the seller has legal title to the goods until they are deliveredb.the buyer has legal title to the goods until they are deliveredc.the transportation company has legal title to the goods while the goods are in transitd.no one has legal title to the goods until they are delivered

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

FOB shipping point means title passes when the seller ships the inventory, not when the buyer receives it.Group startsTrue or False

The term "FOB" denotes: Group of answer choices free on board. freight on board. free only (to) buyer. freight charge on buyer.