Thomas Bernerd,Inc.Thomas Bernerd,Inc.,manufactures and sells reclining furniture.The company currently operates in the United States but wishes to expand overseas.The company managers have been contemplating the best way to enter the foreign market.At first,the management felt it would be in the company's best interest to let a foreign company use its product and brand in exchange for a royalty.The managers recognized,however,that before the company decided on its foreign strategy it needed to think through all the steps required to enter an international market.As such,the managers believed they needed to consult with some type of agency to help their firm compete more effectively in the global marketplace.After all the research was completed,the senior managers realized that they wanted to export their product.The managers decided that the transport carrier would notify them when the merchandise was shipped.This would avoid any confusion about lost shipments and ensure better communication with the receiving parties.
-Refer to Thomas Bernerd,Inc.When the transport carriers notify the exporter that the product has been shipped,they use a
A) bill of lading.
B) receipt.
C) letter of credit.
D) draft.
E) shipping verification.

Question

Quizplus · Accepted Answer

A bill of lading is a legal document that serves as proof of shipment and receipt of goods. It contains information about the type and quantity of goods being transported, the names of the exporter and importer, the carrier, and the terms of the agreement. By using a bill of lading, the transport carrier notifies the exporter that the product has been shipped and provides important information to the receiving parties. Therefore, option A is the best choice.