Multiple Choice
Hi-View Industries, sells merchandise to Action Powersports on account. As terms of the deal, Hi-View Industries will coordinate the shipment, but Action Powersports is responsible for paying the shipping costs. This is an example of:
A) FOB Destination
B) FOB Shipping Point
C) Freight-In
D) Freight-Out
Correct Answer:
Verified
Correct Answer:
Verified
Q56: Walker Food Stores is a retail store
Q57: Freight charges on store equipment purchased FOB
Q58: Match the terms below with the correct
Q59: The account used to record transportation costs
Q60: Account type and normal balance of the
Q62: Match the terms below with the correct
Q63: Jones Co. sells merchandise to J. Smith
Q64: The _ is the source for preparing
Q65: A contra-revenue account to record returned goods
Q66: Jimmie Jones purchases merchandise from GPS Industries