Develop a brief answer to each of the following questions: 1. Can a company have a negative

Question:

Develop a brief answer to each of the following questions:

1. Can a company have a “negative” financing period?

2. If you sold goods to a company in Europe and the exchange rate for the dollar is declining as it relates to the euro, would you want the eventual payment to be made in dollars or euros?

3. Who has ultimate responsibility for safeguarding a company’s assets with a system of internal control?

4. Assume a large shipment of uninsured merchandise to your company is destroyed when the delivery truck has an accident and burns. Would you want the terms to be FOB shipping point or FOB destination?

Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...

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