A Document That Serves as a Contract, a Receipt, and a Certificate

question 30

Multiple Choice

A document that serves as a contract, a receipt, and a certificate of title in an international transaction is known as a:

• A) certificate of origin
• B) manifest
• C) packing list
• D) bill of lading (B\L)

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Definitions:

Goods Available

The total quantity of goods on hand for sale during a specific period, including both beginning inventory and purchases made.

Beginning Inventory

The value of goods available for sale at the start of an accounting period.

Cost of Purchases

The total price paid for goods acquired for resale, including transportation and handling expenses.

Periodic Inventory System

An accounting method where inventory is physically counted and valued at the end of a specific period.