FOB <u>destination</u> is the term used when ownership of the goods transfers to a buyer when the goods arrive at the buyer's place of business.
<h3>What is FOB destination?</h3>
FOB which full meaning is freight on board is a form of goods or product shipment in which the seller is fully incharge or in possession of the goods until the goods reach the buyer destination in which the ownership of the goods is then transfers to a buyer.
Once the ownership of the goods transfers to a buyer, this means that the buyer is the owner of the goods and is liable for any damage that occur to the goods.
Inconclusion FOB <u>destination</u> is the term used when ownership of the goods transfers to a buyer when the goods arrive at the buyer's place of business.
Learn more about FOB destination here:brainly.com/question/24976258
If Simone tells Rural Investments Inc. that the land she is trying to sell them will be worth twice a much next year she is giving an estimate or an opinion of that. There is not factual evidence presented to state that the 300-acre farm is going to be worth more in upcoming years. The farm can also depreciate and lose value, so there is no way to truly know until it comes time to sell the land.
debits Depreciation expense, while the other debits Manufacturing overhead
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