Which of the following incorrectly states the role of banks in import/export transactions involving a letter of credit (L/C)?
A) The exporter's bank is the advising and/or confirming bank.
B) The importer's bank is the advising and/or confirming bank.
C) The importer's bank is the advising, confirming, and issuing bank.
D) The exporter's bank is the advising, confirming, and issuing bank.
E) The importer's bank is neither advising nor confirming bank.
B
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Jade Investments, Inc. purchased 45% of the common stock of Ivory Corporation on March 1, 2017. Ivory Corporation reports a net income of $720,000 for the 2017 year. Which of the following is the correct journal entry?
A) Long-term Investments-Ivory Corporation 324,000 Revenue from Investments 324,000 B) Cash 324,000 Revenue from Investments 324,000 C) Revenue from Investments 324,000 Cash 324,000 D) Revenue from Investments 324,000 Long-term Investments-Ivory Corporation 324,000
Which of the following will improve the style and tone of the writing?
A) Varying sentence length B) Using short paragraphs C) Making sure content is logical D) Using lists and bullets E) Adding headings and subheadings