Listed below are four terms followed by a list of phrases that describe or characterize the terms.Match each phrase with the best term placing the letter designating the term in the space provided.
-_____ Indicates that title to inventory transfers from the seller to the buyer at the point it is shipped.

Question

Quizplus · Accepted Answer

FOB shipping point indicates that title to inventory transfers from the seller to the buyer at the point it is shipped. This means that the buyer is responsible for any damage or loss that occurs during transit.

Answer: B
 FOB destination indicates that title to inventory transfers from the seller to the buyer at the destination point, which means that the seller is responsible for any damage or loss that occurs during transit.

Answer: C
 Periodic inventory system is a method of inventory accounting where inventory is counted and valued periodically, usually at the end of the accounting period. This system does not provide real-time information on inventory levels, and adjustments have to be made for any transactions that occur between counting periods.

Answer: D
 Perpetual inventory system is a method of inventory accounting where inventory levels are updated in real-time as inventory is bought and sold. This system provides accurate and up-to-date information on inventory levels at any given time.

Listed Below Are Four Terms Followed by a List of Phrases