Banker's Acceptances are closely affiliated with international transaction rather than domestic ones. Describe and provide an example of how this market works and why there is a need for the instrument
What will be an ideal response?
When firms engage in international trade they are often unfamiliar with the customer and the financial system. Thus, to assure timely and secure transactions, the importing and exporting parties use their banks to act as intermediaries to facilitate the transaction.. The exporter's bank sends conditions of the contract to the importer's bank. When the goods have been shipped, the importer can authorize their bank to agree to pay for the goods as per terms of the contract. The exporter can receive immediate payment. However, both banks receive a fee for acting as reliable go-betweens for the transaction. Further, the actual document is a tradeable financial instrument.
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Which inventory cost flow assumption is allowed under U.S. GAAP but not under IFRS? Explain why some U.S. companies will lobby strongly to keep this method as an allowable alternative.
What will be an ideal response?
You work in the sales department of an agricultural firm in Minnesota. You have been asked to create a visual that demonstrates the percentage of this year's corn crop that was raised in Blue Earth County compared to that raised in other counties in southern Minnesota. Which type of visual should you create?
A. line chart B. bar chart C. pie Chart D. table
When is a service mix effective?
What will be an ideal response?
To make an S election effective as of the beginning of the current year, an S corporation must file IRS Form 2553 within three and a half months after the beginning of the year.
Answer the following statement true (T) or false (F)