Q2: Consider the following Statements:

i. FOB shipping point means the buyer is responsible for paying the freight charges.

ii. FOB destination means the seller is ultimately responsible for paying the freight charges.

Which of the above statements is/are true?

ii only

Both the statement are false

i and ii only

i only

Q4: Two common subsidiary ledgers are:

accounts receivable and accounts payable

accounts payable and cash payments.

sales and cost of goods sold.

accounts receivable and cash receipts.