The Proposed Rotterdam Rules Differ from the Hague Rules in All

question 33

Multiple Choice

The proposed Rotterdam Rules differ from the Hague Rules in all of the following except:

• A) the expansion of carrier liability from "door to door."
• B) the elimination of errors in navigation as an exception from liability.
• C) the elimination of the requirement of written bills of lading.
• D) the elimination of perils of the sea as an exception from liability.

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Definitions:

Unearned Service Revenue

Income received by a company for services that have not yet been performed or delivered.

Correcting Entry

An accounting entry made to correct an error in the financial statements.

Supplies Expense

The cost associated with the consumption of supplies used in the operations of a business during an accounting period.

Equipment

Fixed assets used in operations, such as machinery, computers, and furniture, which have a useful life of more than one accounting period.