A Bankers' Acceptance Differs from a Trade Draft in That

question 88

Multiple Choice

A bankers' acceptance differs from a trade draft in that: Not in chapter

• A)it is drawn on a bank rather than on an importer
• B)it is always accompanied by a bank letter of credit
• C)its acceptance depends entirely on the goodwill of the importer
• D)there is no difference

Understand the causes and effects of Bacon's Rebellion and its impact on colonial America.

Analyze the influence of Puritan religious ideas on the governance of the Massachusetts Bay Colony.

Identify the early challenges faced by the Virginia colony and analyze why it nearly failed.

Explain the formation and development of the South Carolina colony.

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Definitions:

Profits

The financial gain achieved when the amount earned from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Concentration Ratios

Measures that indicate the extent to which a small number of firms occupy a large market share within an industry.

Covert Collusion

Secret or concealed agreements between firms to fix prices, limit production, or divide markets, in order to increase profits illegally.

Demand Curve

A graphical representation of the demand schedule showing the inverse relationship between price and quantity demanded.