The Following Parties Are Usually Guarantors in Forfaiting EXCEPT

question 1

Multiple Choice

The following parties are usually guarantors in forfaiting EXCEPT:

• A) commercial banks.
• B) government ministries of finance.
• C) large commercial enterprises.
• D) government banks.

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Definitions:

Purchase Requisition

An internal document used by an organization to request permission for a purchase before initiating the actual procurement process.

Purchase Order

A formal document sent from a buyer to a seller, requesting the purchase of goods or services, outlining quantities and prices.

Voucher Register

A record keeping system that tracks the issuance, payment, and cancellation of vouchers, detailing financial transactions such as payments made or received.

Sundry Account

An account used to record minor or infrequent transactions not fitting into other specific account categories.