Author Question: The seller may prepay the freight costs even though the terms are FOB shipping point. a. True b. ... (Read 70 times)

tth · **on:** Jul 5, 2018

The seller may prepay the freight costs even though the terms are FOB shipping point.
a. True
b. False

Indicate whether the statement is true or false

Question 2

Which of the following statements is TRUE?

A) The IASB is the current standards setting body for the U.S. accounting profession.
B) The FASB determines U.S. generally accepted accounting principles.
C) Applying IFRS will require much less judgment and interpretation than following U.S. GAAP.
D) The IRS determines generally accepted accounting principles.