A ________ Is a Document an Exporter Draws on a Foreign

question 79

Multiple Choice

A ________ is a document an exporter draws on a foreign buyer, requiring the buyer to pay the face amount, either on sight or on a specified date, once the goods are shipped.

• A)bank draft
• B)letter of credit
• C)repurchase agreement
• D)trade acceptance

Identify and categorize different components of stockholders' equity and comprehend disclosure requirements related to shares.

Understand the contributions of the Financial Accounting Standards Board (FASB) in developing generally accepted accounting principles (GAAP).

Recognize the difference between operating income and non-operating income (expenses) and their calculation.

Differentiate between current and non-current assets and understand the concept of comprehensive income in financial reporting.

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Definitions:

Negotiable

Capable of being bargained or discussed to reach a mutual agreement, often used in the context of contracts, terms, or financial instruments.

Omitted

Left out or not included, either purposefully or accidentally.

Secured

Pertaining to loans or debt that is backed by collateral, providing the lender with a claim to certain assets if the borrower defaults.

Appraising Performance

Evaluating and assessing the work performance of employees.