The Second Pillar of the Export Transaction Is the Logistics

question 111

Multiple Choice

The second pillar of the export transaction is the logistics of the export transaction.Included in this transaction are all of the following except:

• A)a bill of lading.
• B)the terms of sale.
• C)the payment.
• D)a dispute mechanism.
• E)monitoring of the shipment and delivery of the goods.

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Definitions:

Accumulated Depreciation

Accumulated depreciation represents the total amount of depreciation expense that has been recorded against a fixed asset since it was acquired and put into use.

Retained Earnings

The amount of net income left over for a business after it has paid out dividends to its shareholders.

Journalizing

Journalizing is the process of recording transactions in the accounting journals as part of the double-entry bookkeeping system.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, ultimately resetting the temporary accounts for the new fiscal period.