In an Export\import Transaction Requiring a Letter of Credit (L\C),the

question 43

True/False

In an export\import transaction requiring a letter of credit (L\C),the exporter's (seller's)bank can be known as the "advising" bank,the "confirming" bank,or both.

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Definitions:

Net Pay

The actual amount of money an employee takes home after deductions such as taxes and retirement contributions are subtracted from the gross income.

Employee's Earnings Record

A detailed record maintained by employers showing each employee's total earnings, deductions, and net pay over a specific period.

Payroll Period

The time frame for which employee earnings are calculated and paid, such as weekly, bi-weekly, monthly.

Unemployment Tax Rate

A tax rate assigned to an employer, based on the number of unemployment claims filed by former employees, which funds unemployment compensation programs.