Which of the Following Is a Similarity Between Export Brokers

question 10

Multiple Choice

Which of the following is a similarity between export brokers and export agents?

• A)​Both act as hired purchasing agents for foreign customers operating in the exporter's home market.
• B)Both live in foreign countries and assist in international trade.
• C)Both assume all risks associated with selling a manufacturer's product in the international market.
• D)​Both allow manufacturers to retain title for products.

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Definitions:

Normal Balance

The aspect of an account, be it on the debit or credit side, designated for recording increments to the account.

Credit

An accounting entry that increases a liability or equity account, or decreases an asset or expense account.

Adjusting Entry

An entry made in the accounts to reflect a correct amount of revenues and expenses for a specific period before preparing the financial statements.

Consulting Fees-Revenue

Income earned by an individual or a company for providing professional advice or services to clients.