In the US, the Use of Bills of Lading Is Governed By

question 4

Multiple Choice

In the U.S., the use of bills of lading is governed by:

• A) Federal Bills of Lading Act.
• B) The Convention on Contracts for the International Sale of Goods.
• C) Incoterms .
• D) none of the above.

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Definitions:

Accounts Receivable

Money owed to a business by its clients or customers for goods or services delivered but not yet paid for.

Credit Sales

Transactions where goods or services are sold and delivered, but payment is deferred to a later date, creating receivables for the seller.

Factors Receivables

The process of selling accounts receivable to a third party (factor) at a discount in exchange for immediate cash.