Shipping Documentation Such as the ___________ Must Be Prepared

question 16

Multiple Choice

Shipping documentation such as the ___________ must be prepared. This serves as the basic contract between the carrier and shipper and specifies the commodities and quantities shipped, routing, rates, and carrier liability.

• A) freight bill
• B) invoice
• C) bill of lading
• D) purchase order
• E) bill of trucking

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Definitions:

Time Period Assumption

The accounting principle that allows the life of a company to be divided into time periods, such as months or years, for reporting purposes.

Company Life

A conceptual term generally referring to the length of time a company has been in business or is expected to operate.

Dodd-Frank Act

A comprehensive and complex piece of financial regulation in the United States, enacted in 2010 to prevent the recurrence of financial crises.

Clawback

A provision under which money already paid must be returned, often used in employment contracts for the return of bonuses or in investment agreements.