What happens when merchandise is delivered FOB shipping point?
A. The buyer pays the freight cost.
B. The seller pays the freight cost.
C. The seller records transportation-out expense.
D. The buyer records transportation cost as an expense.
Answer: A
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Ambrose enters into a contract to buy 350 acres from Belle Vista Farms to cultivate grapes and open a winery. If Ambrose breaches the contract, Belle Vista's remedy would most likely be
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