9. TF 06-037 amount of the sales recorded is $3,528 s sold for $3,600, terms FOB destination, 2/10, n/30, with prepaid freight costs of s150. The True False 10. TF.06-047 Title to piace oriee shiping point passes to the buyer upon delivery of the merchandise to merchandise shi True False pped FOB 11. MC.06-075 Which of the following is not a difference between a retail business and a service business? a. accounting equation b. in what is sold C. merchandise inventory included on the balance sheet d. the inclusion of gross profit on the income statement 12. MC.06-077 What is the term applied to the excess of revenue from sales over the Cost of Merchandise Sold? a. net income b. gross sales c. gross profit d. income from operations