Practice Quiz

Vet Manager Exam Prep

Category - CVPM

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If a shipping document enclosed with an inventory delivery states “FOB shipping point”, when would the title, or ownership, of the inventory pass to the veterinary practice?
  1. when the merchandise is shipped
  2. when the merchandise is delivered to the veterinary practice
  3. upon receipt of payment
  4. when the merchandise is delivered to the shipper
Explanation
Answer: D- If the shipping document enclosed with an inventory shipment state “FOB shipping point”, the title, or ownership passes to the veterinary practice when the merchandise is delivered to the shipper. “FOB destination” means that title will pass when merchandise is delivered to the veterinary practice.
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