What is passage of title in transpotation, Accounting Basics

Assignment Help:

Q. What is Passage of title in transpotation?

Passage of title is a term that point to the transfer of the legal ownership of goods. Title to the goods usually passes from seller to buyer at the FOB point. Therefore when goods are shipped FOB shipping point title typically passes to the buyer at the shipping point. When goods are shipped FOB destination title typically passes at the destination.


Related Discussions:- What is passage of title in transpotation

Explain about merchandise inventory, Q. Explain about Merchandise inventory...

Q. Explain about Merchandise inventory? Merchandise inventory is the quantity of goods assumed by a merchandising company for resale to customers. Merchandising companies verif

What is posting reference column, Q. What is Posting reference column? ...

Q. What is Posting reference column? This column demonstrates the account number of the debited or credited account. For example in Exhibit 8 the number 100 in the first entry

Accounting, What is the difference between financial statements prepared fr...

What is the difference between financial statements prepared from the expanded accounting equation and those prepared from a trial balance?k question #Minimum 100 words accepted#

Amount of dividends, Houston Corporation has the following stock outstandin...

Houston Corporation has the following stock outstanding:     In 2012, Houston paid $330,000 in dividends. No dividends were paid in 2011 or 2010. Required : a)

Computer based process solutions for accounts, Process Solutions provides a...

Process Solutions provides a computer-based document processing service. The accountant has produced the following analysis.   Standard Modifi

Adjusting journal entries, Adjusting Journal Entries = These are the ent...

Adjusting Journal Entries = These are the entries which are not recoded and is to be adjusted at the end of the year .For example; Supplies in hand Supplies expense A/C Dr. and

Define expenses in terms of accounting, Q. Define Expenses in terms of acco...

Q. Define Expenses in terms of accounting? Expenses are outflows or else other using up of assets or incurrence of liabilities (or a combination of both) from rendering service

Concepts, Define Accounting. Briefly explain the accounting concepts which ...

Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.

Hi, 1. Carmen Santiago works for a number of businesses as a  “consultant...

1. Carmen Santiago works for a number of businesses as a  “consultant.” She has helped design accounting systems,  provided accounting services, and analyzed the financial  s

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd