When a business purchases goods and pays for them with a written order for a bank to pay the seller a stated amount of money on a specific date, what has it provided for payment?

a. Warehouse receipt
b. Bill of lading
c. Banker's acceptance
d. Letter of credit

Answer: c. Banker's acceptance

Business

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If Jeremy, who is 86 years old, regularly engages in mental workouts so he has a good chance of preserving his ________

A) job satisfaction B) physical fitness C) cognitive fitness D) e-learning

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Suppose you purchase a call option for $4 and a strike price of $30. On the expiration day, the price of the stock is $40. What is the return on the call option if you hold your position until maturity?

A) 125% B) 130% C) 150% D) 170%

Business