When merchandise is shipped ____________________, the freight costs are paid by the buyer.
Fill in the blank(s) with the appropriate word(s).
FOB shipping point
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Trade secrets are confidential information or knowledge that has commercial value, is in the public domain and for which steps have been taken to keep it secret
Indicate whether the statement is true or false
Which of the following is/are not true?
a. Net income or profit for a period is the difference between revenues from selling goods and services and the expenses incurred to generate those revenues, plus some gains or losses of the period. b. If the expenses plus losses exceed the revenues plus gains, the result is a net loss. c. U.S. GAAP and IFRS require the accrual basis of accounting, which detaches the recognition of revenue from the receipt of cash. d. A seller recognizes revenues when it has performed all, or nearly all, of its obligations to the customer and when it has received cash or an asset that is convertible to cash. e. The firm recognizes and reports expenses that have a causal link with revenues, such as cost of sales, in the next accounting period.
Which form of perceived risk most closely resembles class consciousness?
a. social risk b. performance risk c. time risk d. financial risk
Which of the following is true of product lines?
a. They mandate a separate marketing strategy for each line. b. They provide economies of scale in advertising. c. They involve greater transportation and warehousing costs than product items. d. They help distinguish each version of a product from the others offered by a company.