if goods are shipped fob shipping point, the seller does not record revenue from the sale until the goods…

if goods are shipped fob shipping point, the seller does not record revenue from the sale until the goods arriv their destination. true or false true false

if goods are shipped fob shipping point, the seller does not record revenue from the sale until the goods arriv their destination. true or false true false

Answer

Answer:

False

Brief Explanations:

Under FOB (Free On Board) shipping point, the ownership of goods transfers from the seller to the buyer when the goods are shipped. As a result, the seller records the revenue at the time of shipment, not when the goods arrive at the destination. This is a key principle in accounting for revenue recognition related to shipping terms.