7. The ownership (title)passes to the buyer when merchandise is delivered to buyer called A. FOB shipping point C. Transportation cost B. FOB destination D. Delivery expense 8. The balance in Delivery Expense account is listed with expenses on the A. Income statement C. Revenue B. Balance sheet D. Expense 9 __ the one to whose order the check is drawn. A. Drawee B. Drawer C. Payee D. none 10. Voucher is a written instrument signed by the depositor, ordering the bank to pay i certain sum of money to the order of a designated person. A. False B. True C. Both are answer

Question

7. The ownership (title)passes to the buyer when merchandise is delivered to buyer called A. FOB shipping point C. Transportation cost B. FOB destination D. Delivery expense 8. The balance in Delivery Expense account is listed with expenses on the A. Income statement C. Revenue B. Balance sheet D. Expense 9 __ the one to whose order the check is drawn. A. Drawee B. Drawer C. Payee D. none 10. Voucher is a written instrument signed by the depositor, ordering the bank to pay i certain sum of money to the order of a designated person. A. False B. True C. Both are answer

Answer 1

7. B. FOB destination - In an FOB (Free On Board) destination contract, the ownership of the merchandise passes to the buyer when the goods are delivered to the buyer's location.8. A. Income statement - The balance in the Delivery Expense account is listed with expenses on the income statement.9. C. Payee - The payee is the one to whose order the check is drawn, meaning the person or entity that will receive the payment.10. A. False - A voucher is not a written instrument signed by the depositor ordering the bank to pay; that description fits a check. A voucher is typically a document used to authorize a payment or confirm that services have been performed or goods have been received.

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