-Based on the Tree of Life, Which Two Groups Have

question 39

Multiple Choice

-Based on the tree of life, which two groups have the closest ancestor in common?

• A) Animals and fungi
• B) Archaea and fungi
• C) Plants and Archaea
• D) Protists and fungi
• E) Bacteria and animals

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Definitions:

Revenue Recognition

The accounting principle dictating the specific conditions under which revenue is recognized or recorded.

Shipment Date

The shipment date is the day on which goods are officially transferred from the seller to the carrier or dispatched for delivery to the buyer.

FOB Shipping Point

A shipping term indicating that the buyer assumes responsibility for the goods and shipping costs the moment the goods leave the seller's premises.

Title Passes

Refers to the transfer of ownership of property or goods from a seller to a buyer upon the fulfillment of certain conditions.