In: Accounting
You have been asked to write a report regarding who may receive freight. Analyze FIVE (5) principal parties to whom freight may be payable, when this would be the case and if there are any exceptions
frieght is the amount or charge paid by the organization to transport any goods to the company this can be through air, land or sea.it is the process of transporting goods or cargo to the organization/ the company. and the company is charged for this .this payment is also called transportation charges.
this gods are transported on freight prepaid or right-collected basis.this are the two payment which comes under freight. let's look at some of the principal parties who could account freight revenue:
freight charges are paid to the agents or the transportation company who took the responsibility of the transport.all of the parties are paid an amount for their transportation service this is called frieght charge.but in case if payment if ta there is many exemption all this depends in the type of good s that being transportes.lets look at some of the examples which are exempt from frieght chargds.
exmempt:milk,food grain including rice,flour ,pulses,agricultural prodcut.magazine,newspaper,defense military equipment,relief materials,organic manuare.
also this exemption depends upon the country ad can vary from country by country.