A Time Draft Is a Payment for Purchase of Goods

question 59

True/False

A time draft is a payment for purchase of goods and services across national borders which is payable upon presentation to the bank.

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Definitions:

Labor Cost

The total sum of all wages paid to employees, as well as the costs of employee benefits and payroll taxes paid by an employer.

Backflow

The reverse flow of water or other substances into the pipes of a potable water supply from any source other than its intended source.

Migration

The movement of people from one place to another, often across political or economic boundaries, for various reasons including work, education, or escape from conflict.