When goods are shipped FOB destination,the revenue from the sale is recognized on the shipment date.

Name: When goods are shipped FOB destination,the revenue from the sale is recognized on the shipment date.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When goods are shipped FOB destination, the revenue from the sale is recognized on the destination date, not the shipment date. This is because the seller retains ownership and control of the goods until they reach their final destination, where the buyer takes possession and control.

When Goods Are Shipped FOB Destination,the Revenue from the Sale