Question: When the payment under the credit is by payment with a nominated bank, that nominated bank is also called the paying bank. TrueFalse

When the payment under the credit is "by payment" with a nominated bank, that nominated bank is also called the paying bank.

TrueFalse

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

A two-pass tube baffled single-pass shell; shell and tube heat exchanger is used as an oil cooler. Cooling water flows through the tubes at \(20^{\circ} \mathrm{C}\) at a flow rate of \(4.082...

Q:

Which of the following plays a role to verify that the documents received are as required in the collection order and forwards them to the importers bank? * Presenting bank The remitting bank The...

Q:

A Canadian importer has been asked by his trade partner(exporter) to do the payment in advance. what would be your suggestion to the importer to cover the risk of one shipment by the exporter? ask...

Q:

Tokenize the data using max features of size 10000 and pad the sequences to make length of 100. Finally, divide the data into 80/20 train test splits. sample data is below but file is attached...

Q:

Context: The Panic of 1857, the New York Clearing House, and the Concept of Insolvency (A) On the afternoon of October 13, 1857, John Livingston entered the Bank of New York seeking to convert two...

Q:

Need ONLY an answer to Part C, step 1, questions 1 and 3. Term Project Part A: Understanding Financial Statements Locate and use an annual report STEP 1: The Company Assigned to you Find the most...

Q:

SELECT THE BEST ANSWER (Shows computations are required) 1. Current liabilities are A. due, but not receivable for more than one year B. due, but not payable for more than one year C.due and...

Q:

SELECT THE BEST ANSWER (Shows computations are required) 1. Current liabilities are A. due, but not receivable for more than one year B. due, but not payable for more than one year C.due and...

Q:

SELECT THE BEST ANSWER (Shows computations are required) 1. Current liabilities are: A. due, but not receivable for more than one year B. due, but not payable for more than one year C.due and...

Q:

SELECT THE BEST ANSWER (Shows computations are required) 1. Current liabilities are: A. due, but not receivable for more than one year B. due, but not payable for more than one year C.due and...

Q:

SELECT THE BEST ANSWER (Shows computations are required) 1. Current liabilities are A. due, but not receivable for more than one year B. due, but not payable for more than one year C.due and...

Q:

Five companies make up the steel industry in the US. Last years sales for each of the companies (in $millions) are shown below: a. Show all 10 equally likely samples of size three that could be...

Q:

4. Consider the sequence of functions {xk(t)} defined by xo(t) = 2 Tx+1(l) = 2 + [" cos (7) xx (7)dt, k = 0, 1,... (a) Prove that {r(t)}- converges uniformly on the finite interval [-N, N] where N>...

Q:

Imagine a company, XYZ Corp, facing increasing competition in the market while also dealing with rising operational costs. The management team is considering different financial strategies to ensure...

Q:

Determine the major differences between U.S. GAAP and IFRS disclosure reporting requirements related to each separately reportable operating segment. Next, give your opinion as to whether either U.S....