Explain how a bill of lading is used in a commercial transaction
The seller delivers the goods to a carrier for transportation and receives a bill of lading. The seller sends the bill of lading to the buyer's bank (through the seller's bank) to give the buyer's bank title to the goods. The buyer's bank deducts the cost of the goods from the buyer's account, or line of credit, and gives the buyer the bill of lading to get the goods when they arrive, and gives the seller the money.
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The document that shows all operating expenses, their classification as direct or indirect, their assignment or allocation to the departments, and the total operating expenses for each department is known as the
a. departmental operating expense summary. b. cash flow summary. c. income summary. d. gross profit summary.
Retailing is best characterized by which of the following?
a. independent ownership dominating sales b. franchise organizations dominating sales c. ease of entry into the marketplace d. vertical marketing systems being fully integrated
In this form of concurrent ownership, there does not exist a right of survivorship:
A) Joint tenancy. B) Tenancy in common. C) Tenancy in the entirety. D) Community property.
Government regulations come in different forms. Discuss the major types of government regulations of business.
What will be an ideal response?