The UPC 600 Is

question 4

Multiple Choice

The UPC 600 is

• A) used only in open accounts.
• B) normally not used when a letter of credit is issued through the SWIFT network.
• C) the Universal Customs and Practice for Documentary Credit, 2007 revision, Publication 600 of the International Chamber of Commerce.
• D) All of the above
• E) None of the above

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Definitions:

Deposits in Transit

Funds that have been recorded as deposits by a company but not yet processed or recognized by the bank, often resulting in timing differences in account reconciliations.

NSF Cheques

Checks that cannot be processed because the drawer’s account lacks sufficient funds, standing for "Non-Sufficient Funds".

Equity Investments

Financial assets representing ownership interest in a company, including stocks, which provide dividends and potential capital gains.

Cash Equivalents

Short-term, highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value.