A(n) ________ Is an Instrument Issued by an Ocean Carrier

question 25

Multiple Choice

A(n) ________ is an instrument issued by an ocean carrier to a shipper that serves as a receipt for goods shipped, as evidence of the contract of carriage, and as a document of title for the goods.

• A) bill of lading
• B) air waybill
• C) letter of credit
• D) bill of exchange

---

Definitions:

Exchange Rates

The rate at which one currency can be exchanged for another, dictating how much of one currency you can get for a unit of another currency.

Foreign Supplier

A business based in another country that provides goods or services to companies or consumers in a different nation.

Currencies

Different systems of money in use, recognized by various countries or regions for the exchange of goods, services, or debt.

LIFO Reserve

A LIFO reserve is an accounting metric that companies use to account for the difference in cost of goods sold (COGS) calculated using the Last-In, First-Out (LIFO) method and another inventory accounting method, often the First-In, First-Out (FIFO) method.