Consideration is not required to establish or modify a letter of credit
Indicate whether the statement is true or false
True
Business
You might also like to view...
Which of the following expenses is an example of expense recognition under the immediate recognition principle?
A) sales commissions B) depreciation C) management salaries D) transportation-out
Business
Social welfare organizations are classified by the Internal Revenue Service as ______.
A. 501(c)(1) B. 501(c)(2) C. 501(c)(3) D. 501(c)(4)
Business
The _________ is designed to motivate resellers to buy in large quantities and store local inventory
a. allowance b. payment discount c. quantity or volume discount d. trade or functional discount
Business
Exempt property may not be retained by a debtor who files for bankruptcy
Indicate whether the statement is true or false
Business