When the Exporter Quotes a Price for the Goods, Including

question 30

Multiple Choice

When the exporter quotes a price for the goods, including charges for delivery of the goods alongside a vessel at a port (the seller covers all costs of unloading and
Wharfage plus loading the goods on the vessel and the buyer covers all other charges
To get the goods to the buyer) , this form of terms of shipment is called:

• A) ex-works.
• B) free alongside ship (FAS).
• C) free on board (FOB).
• D) cost and freight (CFR).
• E) Cost, Insurance, and Freight (CIF).

Identify common methods and technologies used in the exploration and extraction of fossil fuels.

Understand the geological features related to the major oil-producing regions.

Acknowledge the usage of minerals and fossil fuels by weight and their importance to industry.

Understand the environmental and technical aspects of unconventional oil and gas sources (e.g., shale gas, oil sands).

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Definitions:

Inventory

The cumulative quantity of products and materials a business possesses for the aim of selling or manufacturing.

Alternative Adjusting Entries

Adjustments made in the accounting records to record revenues that have been earned but not yet recorded or expenses that have been incurred but not yet recorded.

Accrued Expenses

Expenses that have been incurred but not yet paid or recorded in the accounting period they relate to.

Insurance Expense

The cost incurred by a company to insure its assets and operations.