Which of the following statements describes the letter of credit?
a. It is a bank's obligation to pay a sum of money.
b. It is issued by a bank on behalf of its customer.
c. It is usually irrevocable.
d. All of the above
d
You might also like to view...
Podcasts are ________
A) digital representations of animated pictures B) dynamic advertisements that change color and fonts while being displayed C) advertisements that pop up between Web pages D) digital media files created for playback E) advertisements that alter the contents of the Web page
In an area franchise, the franchisor authorizes the franchisee to negotiate and sell franchises on behalf of the franchisor
Indicate whether the statement is true or false
In the second step of a positive discipline system to correct undesirable employee conduct, managers issue a __________ to an employee to improve his or her unacceptable performance.
A. warning B. reprimand C. policy summary D. written reminder
Consumption ratios are useful in determining:
A. if overhead-producing activities are being utilized effectively. B. if overhead-producing activities are being utilized efficiently. C. overhead that is incurred at the unit level. D. if overhead costs are being applied to products. E. the existence of product-line diversity.