A Bill of Lading Is a Written Contract Between the Shipper

question 38

True/False

A bill of lading is a written contract between the shipper, the carrier engaged in the transportation of the goods, and the receiver of the goods.

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Definitions:

Consolidation Adjustment

A process in financial accounting where adjustments are made to present a group of companies as a single economic entity in consolidated financial statements.

Intragroup Transactions

Transactions that occur between entities within the same group of companies, often for the purpose of internal record-keeping or consolidation purposes.

NCI

Stands for Non-Controlling Interest, which represents the portion of equity in a subsidiary not attributable to the parent company.

Inventories

Properties or goods designated for transaction in the usual operations of a business, those under production aimed at such transactions, or as components and inventories to be utilized in the manufacturing process or service delivery.