Asked by
Yasser Khedr
on Oct 28, 2024
Verified
Which one of the following statements is false?
A) FOB shipping point means the buyer has legal title to the goods while they are in transit.
B) FOB shipping point means the buyer has legal title to the goods when they are shipped.
C) FOB destination means the seller has legal title to the goods until they reach the buyer's place of business.
D) FOB shipping point means the buyer acquires legal title to the goods when they reach the buyer's place of business.
Legal Title
The recognized legal ownership of property or assets, which includes the rights to use, sell, or transfer the property.
FOB Destination
A shipping term where the seller retains the risk of loss until the goods reach the buyer's location and are ready for unloading.
- Comprehend the exceptions to inventory cost inclusion.
Verified Answer
BK
Learning Objectives
- Comprehend the exceptions to inventory cost inclusion.