Define a Private Foundation

question 47

Essay

Define a private foundation.

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Definitions:

Consignor

The entity or person that sends goods to another (the consignee) to be sold, while retaining ownership until the goods are sold.

Consignee

The individual or entity to whom goods are shipped under a consignment agreement, responsible for selling the goods.

Import Duties

Taxes imposed by a government on goods brought into the country, typically to protect domestic industries or generate revenue.

FOB Shipping

A shipping term indicating that the seller is responsible for delivering goods to a designated location, where the buyer becomes responsible for the goods.