Brantford Business Ltd

question 49

Multiple Choice

Brantford Business Ltd.(BBL) has a loan outstanding from a Canadian bank.It uses the loan to finance its working capital.The bank has asked for BBL to provide it with monthly listings of their accounts receivables and inventory items.The requested listing is an example of:

• A)a special purpose report.
• B)a general purpose report.
• C)a balance sheet report.
• D)a cash flow report.

---

Definitions:

Administrative Dispute Resolution Act

U.S. legislation that promotes the use of alternative dispute resolution processes, such as arbitration and mediation, in the administrative process of federal agencies.

Arbitration

A method of resolving disputes outside the courts, where the parties to a dispute refer it to one or more arbitrators by whose decision (the "award") they agree to be bound.

Formal Rulemaking

A regulatory process that includes a period for public comment and often a public hearing before a final rule is made by a governmental body.

Informal Rulemaking

A regulatory process by government agencies involving less formal procedures than those required for formal rulemaking, often including notices and comment periods.