Author Question: When goods are shipped FOB shipping point, which of the following is NOT true? a. The seller ... (Read 79 times)

melina_rosy · **on:** Jul 6, 2018

When goods are shipped FOB shipping point, which of the following is NOT true?
a. The seller assumes responsibility for all freight costs
b. Shipping costs may be listed separately on the customer's invoice
c. The seller may pay the freight charges directly, but invoices the buyer.
d. The buyer is responsible for all freight costs

Question 2

The General Capital Assets nonfund accounts would be used to account for

a. all capital assets acquired by a government entity.
b. capital assets that will be used in governmental fund activities.
c. capital assets acquired with debt proceeds.
d. capital assets that are used by a variety of governmental and proprietary funds.
e. capital assets that are solely revenue producing in nature.