Question

On January 1, goods were picked up by a FedUp Delivery, Inc. The goods arrived at the customer's place of business on January 12. If the seller recorded the sale on January 1, then the terms must have been FOB:__________

Answer 1

Answer:

Shipping point

Explanation:

FOB stands for the Free On Board, FOB shipping point, also referred or acknowledged as the set the terms of the delivery which transfers the goods title to the buyer, when the shipment is placed on the delivery truck. This also states that the buyer needs to pay the cost of the shipping.

So, when the goods which were delivered on January 1, then the seller records the sale on January 1, then the terms must have FOB shipping point.