Q what is passage of title in transpotationpassage of title, Ask an Expert

Accounting

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.

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Accounting Basics, Accounting

Category:- Accounting Basics
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