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​A ____ Is a Written Order from the Exporter Instructing

question 2

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​A ____ is a written order from the exporter instructing the importer to pay the face amount either upon presentation or at a specified future date.


Definitions:

Net Realizable Value

The estimated selling price in the ordinary course of business minus the costs of completion, disposal, and transportation.

Repossessed

The act of taking back an asset, typically used when a borrower fails to make payments on a secured loan.

Deferred Gross Profit

Profit on installment sales that is not recognized immediately but deferred and recognized as payment is received.

Balance Sheet

An overview of a company's financial status, showcasing assets, financial obligations, and the stake of its shareholders at a precise moment.

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