Certified Management Accountant Practice Exam 2025 – The Comprehensive All-in-One Guide to Exam Success!

Question: 1 / 430

What does a bill of lading represent in shipping?

Document of title evidencing receipt of goods by the carrier

A bill of lading serves as a crucial document in the shipping process. It acts as a receipt for goods that have been loaded onto a carrier, confirming that the carrier has received the items in good condition. This document also functions as a document of title, which means it can be transferred to others, allowing the holder to claim the goods upon arrival at the destination.

In the context of shipping, the bill of lading is essential in establishing the terms under which the goods are being transported and can also serve as a proof of ownership. Therefore, the description aligning with a document of title evidencing the receipt of goods by the carrier accurately reflects the primary purpose and functionality of a bill of lading.

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Legal agreement between buyer and seller

Invoice for goods shipped

Insurance policy for goods in transit

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