9. The largest single expense of most merchandising businesses (1 Point) Q A) sales returns and allowances B) sales discount a) cost of goods sold D) income from operations 10. FOB shipping point means that the title to the goods passes to the purchaser upon receipt of the goods and the seller is responsible for the cost of the freight. (1 Point) True False 11. In a periodic inventory system, purchases of inventory are debited to an account titled Purchases. (1 Point) . True False