What Is a Remittance

question 56

Multiple Choice

What is a remittance?

• A)A type of farm work visa that is issued only seasonally and cannot be renewed.
• B)A form of transportation that the employee sends to bring workers to the U.S.
• C)A portion of earnings that is sent back to families in another location.
• D)A percentage of earnings that is paid to the local job recruiter.
• E)A type of salary that is higher than minimum wage and paid as an enticement too workers (a kind of monetary advance).

Recognize the principle of specific performance and conditions under which it applies.

Analyze scenarios for potential breaches of contract and identify applicable legal defenses.

Understand the implications of newly enacted laws on existing contracts.

Comprehend the concepts of material alteration of contract terms and their acceptability.

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Definitions:

Raw Material Purchases

The total cost of raw materials bought by a company for use in production over a specific period.

Cash Out

The act of disbursing or spending cash, typically resulting in a decrease in the cash balance of a business or individual.

Raw Materials

The basic materials that are used in the production process of goods, prior to being processed or transformed.

Direct Labor Budget

A detailed plan that shows the amount of direct labor hours required to meet production needs and the associated costs.