If a Contract Contains a Delivery Term of __________, the Seller's

question 3

Multiple Choice

If a contract contains a delivery term of __________, the seller's responsibility is to get the goods to the buyer.

• A) FOB place of shipment
• B) FOB place of destination
• C) CIF place of shipment
• D) CIF place of destination

---

Definitions:

GAAP's Flexibility

The allowance within Generally Accepted Accounting Principles for interpretation or adaptation to different situations, providing certain leeway in financial reporting.

Accounting Principles

The rules and guidelines that companies must follow when reporting financial data and statements, ensuring transparency and fairness in financial reporting.

International Accounting Standards Board

An independent organization that develops and approves International Financial Reporting Standards (IFRS).

Global Investing

Global investing refers to the practice of investing in international markets to diversify investment portfolios and exploit opportunities in foreign economies.