Which of the Following Is True of an FAS (Free

question 31

Multiple Choice

Which of the following is true of an FAS (free alongside) contract?

• A) The seller must deliver the goods alongside the vessel at his or her own risk and expense.
• B) The seller must deliver the goods alongside the vessel at the buyer's risk and expense.
• C) It does not include maritime contracts.
• D) It is not accompanied by the name of a specific vessel or port.

Recognize the impact of specific transactions on the cash flows of a company.

Determine the net cash flows from financing and investing activities.

Understand the presentation and significance of noncash activities in financial statements.

Calculate free cash flow.

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