Which of the Following Documents Are Always Required in a Documentary

question 1

Multiple Choice

Which of the following documents are always required in a documentary collection for the sale of goods?

• A) The draft, invoice, and bill of lading
• B) The invoice, bill of lading, and delivery order
• C) The certificate of origin, insurance policy, and invoice
• D) The draft, insurance policy, and invoice

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Definitions:

Gross Payroll

The total amount an employer pays to its employees before deductions, such as taxes and retirement contributions, are made.

Federal Unemployment Compensation Tax

A federal tax imposed on employers to fund state workforce agencies and unemployment insurance.

Employer's Payroll Taxes

Taxes that employers are required to pay on behalf of their employees, such as social security and Medicare taxes in the United States.

Federal Income Tax

The tax levied by the IRS on the annual earnings of individuals, corporations, trusts, and other legal entities.