As a Receipt, the Bill of Lading Indicates That the Carrier

question 91

Multiple Choice

As a receipt, the bill of lading indicates that the carrier

• A) provides a written promise of payment before releasing the merchandise.
• B) has obtained the merchandise described on the face of the document.
• C) receives payment from a third-party such as a bank or trading house.
• D) is obligated to provide a transportation service in return for a certain charge.

---

Definitions:

Bank Debit Memo

A notice from a bank reducing a customer's account balance due to charges like fees or corrections.

NSF Check

A check that cannot be processed due to insufficient funds in the account it's drawn on.

Petty Cash Fund

A small amount of cash kept on hand for minor, incidental expenses of a business.

Journal Entries

Records of financial transactions in the accounting system, ensuring every movement of funds is documented.