Questions: If goods are shipped f.o.b. shipping point, at time of shipment

If goods are shipped f.o.b. shipping point, at time of shipment
Transcript text: If goods are shipped f.o.b. shipping point, at time of shipment
failed

Solution

failed
failed
Answer

The answer is legal title passes to the buyer.

Explanation
Option 1: the buyer has already paid for the goods.

This option is not necessarily true. The term "f.o.b. shipping point" refers to the point at which the legal title and risk of loss transfer from the seller to the buyer, not the payment terms. Payment terms are usually specified separately in the sales contract.

Option 2: legal title passes to the buyer.

This is the correct option. "F.o.b. shipping point" means that the buyer takes ownership and responsibility for the goods once they are shipped. The legal title and risk of loss transfer to the buyer at the shipping point.

Option 3: the seller still has title of the goods.

This option is incorrect. Under "f.o.b. shipping point" terms, the seller does not retain title to the goods once they have been shipped. The title passes to the buyer at the point of shipment.

Was this solution helpful?
failed
Unhelpful
failed
Helpful

Questions asked by other users

failedAnswered
Solve by the quadratic formula. List the solutions, separated by commas. 12 x^2+11 x+2=0 x=
failedAnswered
The number of chocolate chips in an 18-ounce bag of chocolate chip cookies is approximately normally distributed with a (a) What is the probability that a randomly selected bag contains between 1000 and 1400 chocolate chips, inclusive? (b) What is the probability that a randomly selected bag contains fewer than 1000 chocolate chips? (c) What proportion of bags contains more than 1175 chocolate chips? (d) What is the percentile rank of a bag that contains 1000 chocolate chips? (a) The probability that a randomly selected bag contains between 1000 and 1400 chocolate chips, inclusive, is 0.8490 . (Round to four decimal places as needed.) (b) The probability that a randomly selected bag contains fewer than 1000 chocolate chips is 0.0254 . (Round to four decimal places as needed.) (c) The proportion of bags that contains more than 1175 chocolate chips is 0.7247 . (Round to four decimal places as needed.) (d) A bag that contains 1000 chocolate chips is in the rd percentile. (Round to the nearest integer as needed.)
failedAnswered
We have a deck of 8 cards numbered from 1 to 8. Some are grey and some are white. The cards numbered 3, 4, 5, 6, 7, and 8 are grey. The cards numbered 1 and 2 are white. A card is drawn at random. Let X be the event that the drawn card is grey, and let P(X) be the probability of X. Let not X be the event that the drawn card is not grey, and let P(not X) be the probability of not X. (a) For each event in the table, check the outcome(s) that are contained in the event. Then, in the last column, enter the probability of the event. Event 1 2 3 4 5 6 7 8 Probability ----- - - - - - - - - ------------ X O O O O O O P(X)= not X O O P(not X)= (b) Subtract. 1-P(not X)= (c) Select the answer that makes the sentence true. 1-P(not X) is the same as (Choose one)
failedAnswered
Multiple Choice Question Current liabilities operations, including short-term notes payable and dividends payable are categorized as: - unrelated to - recognized in - related to - from
failedAnswered
In the 19th century, an important individual in the origin of personality psychology was Spinoza. Shakespeare. Darwin. Descartes. Leibnitz.