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In the documentary bills the seller faces a lot of risk as the risk of non-acceptance or non-payment of goods. This poses a main risk for the seller. These additional securities inside this method arise from the fact that, the letter of credit is issued through the bank and not through the party to the contract buyer. This instrument guarantees payment to the seller on fulfillment of specific conditions provided therein. The Letter of Credit can be explained as an instrument issued through a bank in favour of the seller termed as beneficiary whereby the issuing bank assumes to pay the beneficiary a specific sum against delivery of certain documents inside a stated period of time. There are several forms of a letter of credit; the most broadly used are given as:
1) Revocable vs. Irrevocable Letter of Credit
2) Confirmed vs. Unconfirmed Letter of Credit
3) Revolving Letter of Credit
4) Transferable Letter of Credit
5) Back to Back Letters of Credit
6) With Recourse vs. Without Recourse Letter of Credit.
Cretin Enterprises uses a predetermined overhead rate of $21.40 per direct labor-hour. This predetermined rate was based on a cost formula that estimated $171,200 of total manufact
Disadvantages of standard costing 1) Difficulty in setting standards: setting of standards in practice extremely difficult and complicated task. First it is not possible to f
Please help me with these problems Merry -Go -Around (MGR) a clothing retailer located primarily in shopping malls, was founded in 1968. By the early 1990s, the company had gon
Assumptions Underlying the CVP Analysis CVP analysis as discussed above is based on certain assumptions . if these assumptions are not recognized then serious error may result
Implementation of ABC analysis The following steps are included in implementing the ABC analysis: 1. Categorize the items of inventories, establishing the expected use in un
Directing There are number of good plans which are never realized. To realize a plan it requires the initiation and direction of the number of actions. Often, thes
Adjacent extreme points differ in only one variable The first observation indicates that we can identify the extreme points of the solution space algebraically by setting zero as
QUEUING THEORY When limited facilities fail/delays to satisfy demands made upon them, problems occur which generate queues or waiting lines. Illustrations are: • Customers
Prepare an estimation of working capital needs from the subsequent information of a trading relates with: (a) Projected Annual Sales 1,00,000
Quasar Computers are the first all optical notebooks and their profit largely affects the manipulations in cost, price, total revenue and quantity changes. The market analysis show
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