Which of the Following Is True About Passage of Title

question 15

Multiple Choice

Which of the following is true about passage of title?

• A) It occurs at the time and place goods are shipped in a shipment contract,and upon reaching the buyer's place of business or other specified location in a destination contract.
• B) It always occurs when the goods leave the hands of the seller.
• C) It does not occur until the buyer indicates acceptance of the goods.
• D) It always passes at the same time that risk of loss passes.
• E) It occurs at the time payment is made by the buyer.

Recognize the difference between GDP and GNP.

Understand how GDP accounts for government, investment, consumption, and net exports.

Understand the components that make up the Gross Domestic Product (GDP) and how they are measured.

Distinguish between nominal and real GDP and understand the significance of each.

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Definitions:

Psychological Motivation

The internal processes that stimulate and direct human behavior toward achieving personal or professional goals.

Power

The ability or capacity to influence or control the behavior of others or the course of events.

Need for Affiliation

A psychological term denoting an individual's desire to build relationships and feel connected to others.

Excel

A spreadsheet program developed by Microsoft that allows users to organize, format, and calculate data with formulas using a system of rows and columns.