Which Statement Is Correct Regarding CIF Agreements

question 15

Multiple Choice

Which statement is correct regarding CIF agreements?

• A)Risk of loss occurs when goods are identified to the contract.
• B)Risk of loss remains with the seller for 5 days after the sale.
• C)Risk of loss remains with the seller for 5 days before the sale.
• D)Risk of loss occurs when the goods are delivered to the buyer.
• E)The seller puts the goods in possession of a carrier before the risk passes to the buyer.

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Definitions:

Ending Balance

The amount of money remaining in an account at the end of an accounting period, after all transactions have been accounted for.

Average Balance

The average balance is a calculation to determine the average amount in an account over a specific time period, often used to assess account fees or for financial requirements.

Earnings Per Share

Earnings per share (EPS) is a financial metric that indicates the portion of a company's profit allocated to each outstanding share of common stock, serving as an indicator of the company's profitability.

Common Stock

Equity securities that represent ownership in a corporation, providing shareholders with voting rights and potentially dividends.