Differentiate between a voyage charterparty and a time charterparty
What will be an ideal response?
A voyage charterparty is a contract to hire an entire ship for a particular voyage. A time charterparty is a contract to hire an entire ship for a particular period of time.
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A partner withdraws from a partnership by selling her interest to another person who currently is not associated with the firm. As a results of this transaction, the capital account balance of the other partners in the partnership
a. will increase b. will decrease c. will remain the same d. may increase, decrease, or remain the same
Which of the following is true of an exchange gain?
a. An exchange gain is a gain on the exchange of one currency for another due to appreciation of the home currency. b. An exchange gain is a gain on the exchange of one currency for another due to appreciation of the foreign currency. c. An exchange gain results from the simultaneous currency appreciation of two countries engaging in trade activities. d. An exchange gain results from the simultaneous currency depreciation of two trading countries engaging in trade activities.