The following sentences describe steps in the payment process of different payment terms. Please select the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The following sentences describe steps in the payment process of different payment terms. Please select the correct alternative: t. In a sight draft transaction, the buyer pays the amount listed in the sight draft to the bank in the importing country and receives the bill of lading, which is used to retrieve the goods II. in a letter of credit payment term, a seller issues a letter of credit and outlines the conditions it requires to receive the goods. No bank is used O Both sentences are false. O Only the first sentence is correct Only the second sentence is correct. Both sentences are correct. The following sentences describe steps in the payment process of different payment terms. Please select the correct alternative: t. In a sight draft transaction, the buyer pays the amount listed in the sight draft to the bank in the importing country and receives the bill of lading, which is used to retrieve the goods II. in a letter of credit payment term, a seller issues a letter of credit and outlines the conditions it requires to receive the goods. No bank is used O Both sentences are false. O Only the first sentence is correct Only the second sentence is correct. Both sentences are correct.
Expert Answer:
Answer rating: 100% (QA)
The detailed answer for the above question is provided below The co... View the full answer
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
Posted Date:
Students also viewed these banking questions
-
A bond with 5 years to maturity, a face value of $1,000 and a coupon rate of 9.0% is selling for $950. What is its yield to maturity? If the yield changes to 9.0%, what will be the new price of the...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
A bank in the United States, First Midwestern National Bank, was approached by the principal of a company which designed, manufactured and distributed jewelry made from natural gems and stones. The...
-
Ava bought a house on 1 July 2000 for 62,000. She occupied the entire property as her PPR until 1 August 2007 when she began using one-quarter of the house for business purposes. This continued until...
-
Lou's employer provides a qualified cafeteria plan under which he can choose cash of $9,000 or health and accident insurance premiums worth approximately $7,000. Assuming that Lou is in the 35% tax...
-
Set up the following T-accounts: Cash, Accounts Receivable, Office Supplies, Office Furniture, Accounts Payable, Common Stock, Dividends, Service Revenue, Salary Expense, and Rent Expense. Record the...
-
The trial balance for TDR Systems, Inc., at July 15, 2010, follows: During the remainder of July, TDR Systems, Inc., completed the following transactions: Requirements 1. Journalize the transactions...
-
Food Intake of a Hamster. The energy output of an animal engaged in an activity is called the basal metabolic rate (BMR) and is a measure of the conversion of food energy into other forms of energy....
-
Partners Healthcare Discussion Questions 1. Suppose different hospitals within the Partners system choose different mixes of the "riskfree" STP and the baseline LTP. Plot the returns and risks of the...
-
Landover Corporation is looking for a larger office building to house its expanding operations. It is considering two alternatives. The first is a newly constructed building at a cost of $6 million....
-
Within the northeastern control systems industry, Middleton knew of no company that had conducted formal market research. Should he conduct further research himself, use the consultant or the student...
-
If - (5x+6) f(x) x-3x-5 determine lim f(x) = X-11 What theorem did you use to arrive at your answer? Problem 19. (1 point) Let f(x)=36-x x-6 Sketch the graph of this function and find following...
-
H , age 4 5 , and W , age 4 3 , are married with a 5 - month - old son. H and W always file jointly. H is the vice president of a local bank and is paid a salary of $ 9 5 , 0 0 0 . W is registered...
-
In the movie Star Wars: The Empire Strikes Back, after being told that Darth Vader is his father, Luke Skywalker falls from a ledge in Cloud City ( not on the Earth, so the magnitude of the free -...
-
The risk-free rate is currently 8.4%. Use the data in the accompanying table for the Fio family's portfolio and the market portfolio during the year just ended to answer the questions that follow....
-
Cherokee Incorporated is a merchandiser that provided the following Information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit...
-
Mateo has received a notice of assessment from the Commissioner of Taxation which is different from the taxable income he returned for the Year Ended 30 June 2022. The notice states that it disallows...
-
Fill in each blank so that the resulting statement is true. 83 + 103 = ______ .
-
Claude, a creditor seeking to collect a debt, calls on Dianne and demands payment in a rude and insolent manner. When Dianne says that she cannot pay, Claude calls Dianne a deadbeat and says that he...
-
The Brewers contracted to purchase Dower House from McAfee. Then, several weeks before the May 7 settlement date for the purchase of the house, the two parties began to negotiate for the sale of...
-
This matter is before the court on Plaintiffs Motion for Partial Summary Judgment. Defendants have filed a Grounds of Defense, asserting certain affirmative defenses to liability. Plaintiff argues...
-
Calculate the CGT payable in relation to each of the following disposals, assuming in each case that the annual exemption is fully utilised against other gains, that there are no allowable losses and...
-
In October 2012, Matthew bought a piece of rare porcelain for 10,000. The porcelain was damaged in early 2019 and in February of that year Matthew spent 3,850 on restoration work. In July 2019,...
-
Mick Stone disposed of the following assets during tax year 2023-24: (1) On 19 May 2023, Mick sold a freehold warehouse for 522,000. This warehouse was purchased on 6 August 2011 for 258,000, and was...
Study smarter with the SolutionInn App