The First Owner of the Bankers' Acceptance Created from an International

question 59

True/False

The first owner of the bankers' acceptance created from an international trade transaction will be the importer, who receives the endorsed draft back after the bank has stamped it "accepted."

---

Definitions:

Standard Price

A predetermined cost that companies use as a benchmark to measure the performance of actual costs.

Fixed Overhead Volume Variance

The difference between the budgeted and applied fixed manufacturing overhead, based on the standard volumes expected to be produced.

Standard Quantity

The expected quantity of materials or inputs required for production under normal conditions.

Standard Hours Allowed

The amount of time that should be spent on producing a certain number of units under normal conditions.