The Incoterm for the situation where the seller clears the goods for export and places them by the ship, and the risk passes to the buyer at the ship's rail, is
A. FAS.
B. CIF.
C. DDP.
D. DAT.
E. DAP.
Answer: A
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Which of the following would appear on the balance sheet as a current liability?
a. A loss from an anticipated strike by employees. b. Potential damages from possible explosions in a fireworks factory. c. Premium offers in cereal boxes. d. The possible loss from a lawsuit.
Auditors will examine the insurance register primarily to:
A. ensure that dollar coverage amounts are adequate. B. ensure that insurance agents are not related parties. C. examine policy expiration dates to verify that prepaid insurance is properly stated. D. ensure that all assets are insured.
According to the text, category codes should be ________ and ________
A) dependent; collectively exhaustive B) collectively exhaustive; mutually exclusive C) mutually inclusive; dependent D) dependent; mutually exclusive E) precoded; post-coded
Of the three parties involved in the distribution process, ________ own the goods that are being distributed
A) shippers B) brokers C) agents D) carriers E) consignees