Shipping terms FOB destination mean that the buying company owns the goods while they are shipped.

True

False

If merchandise costing $3,500, terms FOB destination, 2/10, n/30, with prepaid freight costs of $125, is paid within 10 days, the amount of the discount is $70.

True

False

Special journals make it impossible to make errors.

True

False

A subsidiary ledger for Accounts Receivable would show accounts for all a firm's customers.

True

False

Most companies pay within a discount period when available because the savings over time are substantial.

True

False