The Document That Corresponds Clearly to the Transfer of Responsibility

question 49

Multiple Choice

The document that corresponds clearly to the transfer of responsibility for a Free Carrier shipment is the receipt given by the carrier to the exporter.This receipt can be

• A) a sea waybill.
• B) an air waybill.
• C) a multi-modal bill of lading.
• D) All of the above
• E) None of the above

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Definitions:

Unabated

Continuing without any reduction in intensity or strength.

Double Taxation

This refers to the phenomenon where income is taxed twice before it is finally received by the individual, commonly seen when corporate income is taxed at both the company and the shareholder levels when dividends are distributed.

Corporation

A legal entity that is separate from its owners, providing them with limited liability and the ability to raise capital through share issuance.

Purported Partner

An individual who is represented or appears to be a partner in a business, regardless of the formal truth of that status.