FTG Corporation Accepts Credit Cards in Payment from Its Customers

question 37

Multiple Choice

FTG Corporation accepts credit cards in payment from its customers, but does not extend credit itself. Which of the following documents is least likely to be required in FTG's sales/collection process?

• A) Remittance advice.
• B) Deposit slip.
• C) Bill of lading.
• D) Packing list.

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Definitions:

Forward Market

A financial market in which participants can enter into contracts to buy or sell assets at a specified future date and price.

Spot Market

The Spot Market is a public financial market in which financial instruments or commodities are traded for immediate delivery.

Foreign Currency

The currency of another country, which is required for foreign trade and investment.

Hedge

An investment or action taken to reduce the risk of adverse price movements in an asset.