A commercial letter of credit is used when ______.
A. the underlying transaction is consummated by the applicant
B. the underlying transaction is not performed by the applicant
C. something will go wrong or a negative event will occur
D. it is necessary to assure the performance of non - monetary obligations
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The larger a corporation's taxable income, the closer its average tax rate comes to the higher ______ pate.
A. marginal
B. interest
C. exchange
D. ceiling
Through open account, the seller will. manufacture goods before payment is required.
A. Right
B. Wrong
C. Doesn't say
The fact that interest _-- are tax deductible while dividends are not is a major consideration in the financial structure of an overseas subsidiary.
A. rates
B. earnings
C. inputs
D. charges
In the case of an ordinary lien, ______.
A. the creditor is file owner of the property, so it has a right to sell it
B. the borrower is the owner of the property, but he has no right to sell it
C. the borrower is the owner of the property, and has right to sell it
D. the creditor is not only the owner of the property, but also in actual or constructive possession of the property