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  3. Study Set
    Fundamental Accounting Principles Study Set 1
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    Exam 5: Accounting for Merchandising Operations
  5. Question
    FOB ________ Means Ownership of Goods Transfers to the Buyer
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FOB ________ Means Ownership of Goods Transfers to the Buyer

Question 245

Question 245

Short Answer

FOB ________ means ownership of goods transfers to the buyer when the goods arrive at the buyer's place of business. The seller is responsible for paying shipping charges and bears the risk of damage or loss in transit.

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