World Inc wanted to sell sugar-free candy made by Sweets (a U.S. company) to an Italian company, Ferraro. The goods were to be paid for by an irrevocable letter of credit issued in the name of World. The letter of credit stated that drafts must be accompanied by a bill of lading, packing list, FDA approvals, and certificates of insurance. Drafts were to be presented to C Bank before March 15,
2009 . After shipping the candy to Ferraro, World presented the Bank with the required documentation on March 21, 2009 . The Bank should:
a. pay the draft as required by the letter of credit because it is irrevocable b. pay the draft because all the required documentation is in order
c. pay the draft because Ferraro would be unjustly enriched if it received the goods and did not pay for them d. not pay the draft because the letter of credit is irrevocable
e. none of the other choices
e
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Which statement below describes nonverbal communication as stated in the textbook?
A. allows transmission of subtle messages B. low risk of conveying the wrong message C. perceived the same way by all receivers D. can be recorded and archived
Return on investment is computed by dividing income by
a. contribution margin. b. inventory turnover. c. assets invested. d. long-term assets.
Use an if the word following an indefinite article begins with a vowel sound
A) True B) False
During March, a firm expects its total sales to be $160,000, its total variable costs to be $95,000, and its total fixed costs to be $25,000. The contribution margin for March is:
A. $90,000. B. $120,000. C. $25,000. D. $65,000. E. $40,000.