A Certificate That Represents Shares of a Foreign Stock Issued

question 26

Multiple Choice

A certificate that represents shares of a foreign stock issued by a U.S.bank is called an:

• A) Letter of credit
• B) American depository receipt
• C) Foreign credit
• D) Exchange contract

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Definitions:

Credit Card Discounts

It refers to the reduction in the amount receivable from customers who make payments through credit cards, accounting for the fees charged by the credit card companies.

Operating Expenses

The costs associated with running the day-to-day operations of a business, such as rent, utilities, and salaries.

Gross Profit

The difference between net sales and the cost of goods sold, indicating the efficiency of a company's production process.

Gross Sales

The total sales revenue of a company without any deductions for returns, allowances, or discounts.