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FOB shipping point means that the: O common carrier pays the freight costs. O buyer pays the freight costs. seller pays the freight costs. ownership
FOB shipping point means that the: O common carrier pays the freight costs. O buyer pays the freight costs. seller pays the freight costs. ownership transfers when the goods are delivered to the buyer, Profit from operations is equal to net sales minus operating expenses. O True False When a company returns merchandise to its supplier under a perpetual inventory system, the Merchandise Inventory account will be debited. Assume the company uses the earnings approach for revenue recognition True False
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