When the Seller Provides the Buyer with a Document Enabling

question 41

Multiple Choice

When the seller provides the buyer with a document enabling them to pick up goods held at an independent warehouse,the risk of loss passes to the buyer

• A) when the goods are picked up by the buyer.
• B) when the contract of sale is signed.
• C) when the buyer receives the document entitling it to pick up the goods.
• D) when the buyer pays for the goods.

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Definitions:

Owns

To possess or have title to a property or asset.

Subchapter S Stock

Shares of a corporation that elects to pass corporate income, losses, deductions, and credits to shareholders for federal tax purposes.

Corporate Charitable Contributions

Contributions made by a corporation to charitable organizations which are often tax-deductible.

Corporate Formation

Corporate formation refers to the legal process involved in creating a corporate entity or company, which includes filing the necessary documents with state authorities and fulfilling all legal requirements to start business operations.