In a letter of credit the beneficiary is the drawer of the drafts that will be drawn under the letter of credit
Indicate whether the statement is true or false
True
You might also like to view...
Which of the following entries ensures the proper separation of revenues and expenses between successive accounting periods?
a. adjusting; b. closing; c. reversing; d. general journal; e. purchasing.
If the price for a product increases, the demand for the complementary product will
A. become more inelastic. B. decrease. C. become more elastic. D. increase. E. stay the same.
Following are the yields on selected Treasury securities: ? Maturity Yield 2 years 1.6% 3 years 2.2 4 years 2.4 ? Using the expectations theory, compute the expected one-year interest rate in Year 3. That is, compute the rate that is expected to exist only during Year 3. (Base your answer on an arithmetic average rather than a geometric average.)
A. 2.2% B. 1.6% C. 3.4% D. 1.9% E. 3.0%
A production lot size is scheduled when on-hand inventory falls ______.
a. to zero b. below safety stock c. below zero d. below safety stock or below zero