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When a company repays the seller for shipping costs on an FOB shipping point transaction, which of ...

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7 years ago

When a company repays the seller for shipping costs on an FOB shipping point transaction, which of ...

When a company repays the seller for shipping costs on an FOB shipping point transaction, which of the following is TRUE?
A) A purchase discount can still be taken net of the prepaid shipping charges.
B) A purchase discount can still be taken on the gross amount of the invoice.
C) A purchase discount cannot be taken when shipping charges are prepaid.
D) The shipping costs do not affect the invoice value.

Textbook

Financial Accounting

Edition: 3^rd

Authors: Kemp, Waybright

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tivo Author

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7 years ago

Luckily this is the last business course I'll be taking. Thank you greatly

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