The Amount Due on the Maturity Date of a $6,000,60-Day

question 58

Multiple Choice

The amount due on the maturity date of a $6,000,60-day 4%,note receivable is:

• A)$6,000.
• B)$6,240.
• C)$5,760.
• D)$6,040.
• E)$5,960.

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Definitions:

Exportation

The act of sending goods or services to another country for sale or trade.

Foreign Marketplace

An external market outside of one’s own country where goods, services, and financial instruments are traded.

Customs Union

An agreement between two or more countries to remove trade barriers and reduce tariffs among them, and to establish a common external tariff against other countries.

Common External Tariff

A uniform tariff rate adopted by a customs union or common market on imports from countries outside the union.