Multiple choice If title to merchandise purchases passes to the buyer when the goods are shippedfrom the seller, the terms aredea. n/30h FOB shipping pointFOB destinationC.d. consignedwhen goods are shipped FOR destination and the seller pays the transportationcharges, the buyer4.a. journalizes a reduction for the cost of the merchandise.b. journalizes a reimbursement to the seller.does not take a discount.C.d.makes no journal entry for the transportation.nhandise on account FOB shipping point,f the

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If title to merchandise purchases passes to the buyer when the goods are shipped from the seller, the terms are a. n/30 FOB shipping point FOB destination d. consigned b. C.

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter14: Adjustments And The Work Sheet For A Merchandising Business

Section: Chapter Questions

Problem 1MC

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Question

Multiple choice

If title to merchandise purchases passes to the buyer when the goods are shipped
from the seller, the terms are
de
a. n/30
h FOB shipping point
FOB destination
C.
d. consigned
when goods are shipped FOR destination and the seller pays the transportation
charges, the buyer
4.
a. journalizes a reduction for the cost of the merchandise.
b. journalizes a reimbursement to the seller.
does not take a discount.
C.
d.
makes no journal entry for the transportation.
nhandise on account FOB shipping point,
f the

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