Which of the Following Is True of a Shipment Contract

question 18

Multiple Choice

Which of the following is true of a shipment contract?

• A)The seller must put the goods in the possession of the carrier.
• B)The seller must tender the delivery of goods to the buyer.
• C)The seller offers to turn the goods to the buyer,and the buyer offers to pay for them.
• D)The seller tenders the delivery of goods to the carrier,along with the document title.

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Definitions:

Current Assets

Short-term financial resources that a company expects to turn into cash within one year.

Financial Statements

Formal records of the financial activities and condition of a business, including the balance sheet, income statement, and cash flow statement.

Long-term Assets

Assets that are expected to provide economic value beyond one year, such as property, plant, and equipment.

Current Liabilities

Financial obligations a company is required to pay within one fiscal year or its operating cycle, whichever is longer.