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Question
Match each of the following definitions with the term (a–h) it defines.
a. Credit terms
b. FOB destination
c. FOB shipping point
d. Periodic inventory system
e. Perpetual inventory system
f. Inventory shrinkage
g. Single-step income statement
h. Multiple-step income statement
Shipping terms where the ownership of merchandise passes to the buyer when the seller delivers the merchandise to the freight carrier
Answer
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