The Following Elements Are All Considered to Be Key Elements

question 67

Multiple Choice

The following elements are all considered to be key elements materially altering the terms of an offer when included with an acceptance under the CISG except:

• A) Price.
• B) Place and time of delivery.
• C) Specification of the ship to be used for carriage.
• D) Settlement of disputes.

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Definitions:

Bank Reconciliation

The process of matching and comparing figures from accounting records against those shown on a bank statement.

Balance Per Books

The amount shown in a company's accounting records, as opposed to the actual or adjusted balance that may be shown in a bank statement or other external source.

Company's Balance

Refers to the financial position of a company at a specific point in time, encompassing its assets, liabilities, and equity balances.

Outstanding Checks

These refer to checks that have been written and recorded in the accounting records but have not yet cleared the bank account.